UK - State Street has been appointed as global custodian to the Weir Group Pension Scheme. State Street will also provide fund accounting, foreign exchange and cash management services to the £400m scheme.
Group pensions manager Philip Battey said: “After a competitive selection process, we appointed State Street as custodian because of its expertise in servicing UK pension funds.
The opportunity to take advantage of State Street’s value-added services in the future was another factor in our decision.”
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.