Mercer appoints Northern Trust Company

Mercer appoints Northern Trust Company

Northern Trust Company appointed as custodian of Mercer funds in Australia

  • 14 July 2015
  • Australia, Melbourne

Following an extensive competitive tender process Mercer has appointed Northern Trust Company to undertake custody and investment administration of Mercer’s investment and superannuation funds in Australia.

The process to identify a preferred custodian for Mercer’s funds was thorough and drew on the expertise of Mercer Sentinel, Mercer’s specialist investment operations consulting unit and involved a number of non-executive directors of the relevant fiduciary entities.

Simon Eagleton, Leader of Mercer’s Investments Business in the Pacific market, said, “Northern Trust was appointed due to the strength of its offer to meet Mercer’s business requirements and growth ambitions in both an institutional and retail investment context.”

“Northern Trust’s significant ongoing investment in technology, ability to work with us to improve efficiency, and its enhanced risk management capabilities were all important considerations for us.

“Northern Trust will provide us with timely and comprehensive access to a richer data set than has been available to date, along with broader access to emerging markets.

“We believe there is a strategic and cultural alignment between Mercer and Northern Trust, a global provider whose core business is custody and investment administration.

We are confident this will add value to Mercer’s business and to our clients and customers,” he said.

Northern Trust will succeed NAB Asset Servicing as the custodian of Mercer’s funds in the Australian market. 

“Mercer’s relationship with NAB is long-standing and we are appreciative of the service we’ve received during our relationship.  We look forward to continuing our relationship across many parts of our business,” said Mr Eagleton.

 

ENDS

 

About Mercer

Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset – their people. Mercer’s more than 20,000 employees are based in more than 40 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With 57,000 employees worldwide and annual revenue exceeding $13 billion, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com.au Follow Mercer on Twitter @MercerAu

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