FINLAND - State Street Corporation (STT) has been appointed custodian and fund administrator by Finland's e12bn Local Government Pensions Institution (LGPI).
The current provider, Deutsche Bank agreed to the sale of its global securities service (GSS) to State Street in November last year.
Commenting on the decision, Ari Huotari, chief investment officer at LGPI said: “State Street proved they were able to enhance the service by introducing new technology and services but at the same time retaining the key Deutsche personnel.
Alasdair Reid, State Street's head of pension fund sales in Scandinavia said: It further demonstrates our ability to integrate Deutsche’s European client base in an extremely competitive environment.
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