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.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.