Northern Trust has been named by the Commonwealth Superannuation Corporation as its preferred custody and administration services provider for a sixth year.
Commonwealth Superannuation Corporation (CSC) chief executive Peter Carrigy-Ryan said he was pleased to continue the relationship with Northern Trust.
“CSC regards its relationship with its custodian as a strategic business relationship, and following a full market review, we are proud to continue our relationship with Northern Trust,” he said.
“Over the past five years, we have worked closely to ensure we collectively raise the bar for global best practice in investment operations. This endorsement supports CSC’s strategic investment operational goals of automation, efficiency, robustness and transparency.”
Northern Trust was first endorsed as the CSC’s preferred partner for the provision of master custody and related investment administration services in October 2011, and the company’s managing director for Australian and New Zealand Madeleine Senior said the company looked forward to continuing to work with the CSC.
“As our Australian superannuation fund clients grow their relationships with us we have expanded our capital markets service offering to include securities lending, foreign exchange capabilities and brokerage,” she said.
“CSC values Northern Trust’s flexible and scalable global investor services and we are delighted to have the opportunity to extend our long and rewarding relationship together.”