The Border to Coast Pension Partnership has selected Northern Trust as to provide third-party administration and depositary services ahead of the looming April deadline for pooling.
Following a public procurement process in late 2017, Border to Coast will be working in partnership with Northern Trust to develop an operating model for pooling the assets of its 12 partner funds that collectively have around £43bn in assets. The pool is in the process of seeking regulatory approval to become an asset manager.
The firm will help the pool build on its infrastructure and support the organisation through "the next stage of the journey", according Border to Coast Pension Partnership chief operating officer Fiona Miller.
She continued: "Through the firm's long-term partnership with the Local Government Pension Scheme (LGPS) and extensive expertise in authorised contractual scheme structures, Northern Trust's understanding of our needs and the culture we want to build make them a natural partner for Border to Coast."
Northern Trust senior vice president James Wright said the appointment highlighted its continued commitment to LGPS.
Wright said: "Our tax transparent fund experience, alongside our dedicated UK pension team and proven technology ensures we are well placed to support Border to Coast's unique requirements."
Border to Coast is one of the eight pools in the UK's LGPS, which must be set up by 1 April 2018.
The partner funds in Border to Coast include Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne and Wear, and Warwickshire.
The government has confirmed the current interim chairwoman of The Pensions Ombudsman (TPO), Caroline Rookes, will continue the role in a permanent capacity.
The Pensions Management Institute (PMI) has appointed three non-executive directors and an executive director to its board.
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).
Six members of Ross Trustees’ pension trustee and support teams have been promoted into new roles.