Western Australian public sector fund GESB has appointed Northern Trust to provide a range of services for its $20 billion super and retirement scheme.
Northern Trust will provide global custody, fund accounting, taxation, performance measurement and attribution and other related services.
GESB CEO Howard Rosario said the fund chose Northern Trust for its technology capacity and cultural fit.
The appointment comes after a detailed review by GESB based on WA State procurement policies.
International consulting firm Thomas Murray helped with the review process.
GESB had previously appointed National Australia Bank's National Asset Services to provide it with the investment advisory services.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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