UK - Merseyside Pension Fund has selected State Street to provide custody, securities lending, cash management and foreign exchange services.
The e4.6bn Merseyside Pension fund administers the pension scheme for local authority employees as well as the Firefighter’s Pension Scheme.
“We are pleased to have appointed State Street, who were highest placed in our competitive tendering process,” said John Parry, Assistant Director of Finance for the Merseyside Pension Fund. “Their commitment to the technology supporting the pension fund industry and their focus on risk controls were significant factors in leading us to award them the contract for global custody services.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers