UK - Northern Trust's European manager-of-managers business has won over 18 new pension fund clients with mandates worth in total more than £400m since January 2003.
New clients include three UK pension schemes, the Timet UK pension with a mandate worth £50m, the West Bromwich Building Society Staff Retirement Benefit Scheme (£20m) and the Birmingham International Airport Pension Scheme (£12m).
NT’s manager-of-manager business has also grown through five new strategic partnerships. NT’s total assets under management in manager-of-managers portfolios in Europe is now worth over £1.5bn.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.