Equip Super Completes Transition to Northern Trust for Asset Servicing Solutions
21 May 2024 - 9:00AM
Business Wire
Northern Trust (Nasdaq: NTRS) today announced that it will
provide asset servicing solutions, including global custody, fund
administration and portfolio analytics services, to Equip Super, a
leader in the Australian Superannuation industry. The transition of
services took effect on 2 April 2024.
Headquartered in Melbourne, Australia, Equip Super offers super,
financial advice and pensions to more than 140,000 members across
Australia. As of 31 March 2024, Equip Super has approximately AU$34
billion in funds under management.
“The decision by Equip Super to select Northern Trust underlines
our commitment to Australia and is a testament to the breadth of
our experience and expertise in providing asset servicing to
Australian superannuation funds,” said Leon Stavrou, Country
Executive Australia and New Zealand, Northern Trust. “We understand
the unique needs of this industry and look forward to building our
relationship with Equip Super as they continue to grow.”
Amidst a changing working population in Australia and a rapidly
evolving financial landscape worldwide, superannuation funds may
face increasing pressure to deliver value while meeting member
expectations. In recent years, Equip Super has been involved in
several successor fund transfers in the superannuation industry and
continues to look for new growth opportunities. Equip Super was
seeking a partner that could enable them to scale effectively while
providing its members with a consistent service experience.
“We chose Northern Trust as our new custodian based on their
global services and product offering and competitive fees. They
proved to be the best match to enable us to meet our Fund’s
strategic objectives and provide the best financial interest to our
members,” said Marc Pizzichetta, CFO of Equip Super.
Northern Trust has an established network of offices across Asia
Pacific in Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila,
Melbourne, Pune, Singapore, Sydney and Tokyo. It has strong
relationships with some of the region’s largest central banks,
sovereign wealth funds, government agencies, corporations and asset
managers, offering a comprehensive range of customized asset
servicing, asset management and capital markets solutions.
About Equip Super
Equip Super manages $34 billion for over 140,000 members across
both Equip Super and Catholic Super. Equip Super is a leader in the
superannuation industry in bringing funds together through
successful successor fund transfers and continues to look for new
opportunities to grow the fund.
Across Equip Super and Catholic Super, we service employers and
members from the energy, resources, water, infrastructure,
manufacturing, education, health, legal and services sectors. Equip
Super is an industry super fund, operating accumulation, defined
benefit and pension plans. Our key objective is to deliver the best
retirement outcome possible for members, while operating as a
trusted partner for participating employers.
Equipping members today, so they’re ready for tomorrow.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2024, Northern Trust had assets under
custody/administration of US$16.5 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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Media Contacts
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada:
John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com
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