UK - The £365m Kimberly-Clark pension fund has appointed The Bank of New York as its global custodian.
BoNY was chosen after a competitive tendering process in which Watson Wyatt acted as consultant.
Custodian work at the fund was formerly split between BoNY, JPMorgan Investor Services and Northern Trust.
BoNY managing director pension sector Benjie Fraser said: “This appointment demonstrates the success of the sector-specific approach upon which our market leadership is based.”
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
In this week's Pensions Buzz, we want to know if you think trustees should consult directly with members before agreeing to a DB superfund buyout.
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?