AUSTRALIA - The A$24bn Commonwealth Superannuation Corporation has hired Northern Trust as custodian, marking the firm's first full-service master custody client in Australia.
"This appointment follows a detailed search and extensive due diligence on several major providers of custodian services in Australia," said CSC's chief executive officer, Peter Carrigy-Ryan. "CSC regards...
Pat Sharman believes traditional custodians are not serving UK pension funds well and argues it could be time to shift towards the Dutch approach.
The Bank of New York (BNY) Mellon has been fined £126m by the Financial Conduct Authority for serious failures to safeguard clients' assets.
Cambridge and Northamptonshire local government pension schemes (LGPS) have appointed Northern Trust to act as custodian of their £4bn of assets.
The Financial Services Authority is investigating State Street over allegations it overcharged some of the UK's biggest pension schemes according to the Financial Times.
Middlesbrough Council has appointed BNP Paribas to act as custodian for the £2.5bn Teesside Pension Fund.