IOOF wins $250m super tender
By Vishal Teckchandani
Monday 29 March 2010
Wealth management firm IOOF Holdings' Spectrum Super platform has won a tender to manage Bendigo and Adelaide Bank's $250 million employee superannuation account.
The lender chose IOOF due to the breadth of its investment menu and service ethic, IOOF's general manager of distribution Renato Mota said.
The tender arose due to the bank's decision to move to a single super provider following the merger between Bendigo Bank and Adelaide Bank, Mota said.
The two lenders agreed to merge in 2007 and the new company was named Bendigo and Adelaide Bank in the following year.
"IOOF managed the old Bendigo scheme for many years and staff have always valued the personal service provided by its relationship managers and call centre staff," Bendigo and Adelaide Bank corporate resources executive Marnie Baker said.
"I'm looking forward to staff across the merged group being able to take advantage of the same levels of service when it comes to their super. Consistency in employee benefits is very important to us."
Deloitte acted as tender manager.
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