
Northern Trust appointed to $1.6bn US retirement plan

US - The Federated City Employees' Retirement System of San Jose, California, has appointed Northern Trust to provide global custody, securities lending, performance measurement and risk management services to its US$1.6bn retirement plan.
Plan assets transitioned on 3 January, 2006.
Donna Busse, investment officer for the Federated City ERS of San Jose, said Northern Trust had been selected because of its technology platform, and its analytics and performance reporting mechanism.
Griff Ehrenstrom, senior vice president and head of North American sales at Northern Trust said the company looked forward to continued growth in the public fund marketplace.
As of 30 September 2005 Northern Trust had assets under custody of $2.8trn, and assets under investment management of $607bn.
Latest stories
PRI toughens up climate risk reporting for UK schemes
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT launches education pension scheme as teachers face contribution rate hike
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension reveals plans to cut fees with move to banded structure
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Akash Rooprai appointed as ITM head of client management
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.