The Government Employees Superannuation Board (GESB) has appointed Northern Trust (Nasdaq: NTRS) to provide global custody, fund accounting, taxation, performance measurement and attribution and associated services for its AUD20 billion (approximately USD16 billion) superannuation and retirement scheme.
GESB is the largest Western Australia based superannuation provider, administering the superannuation and retirement assets of current and former public sector workers. Based in Perth, it has more than 70-years of superannuation experience.
“We appointed Northern Trust as we were looking to maximise efficiencies and streamline our operations, ensuring that we can continue to offer value for money to our members,” says Howard Rosario, GESB Chief Executive Officer. “Northern Trust’s 125 year reputation for service combined with the quality of technology, proven expertise and cultural fit were key factors in our decision to work with them.”
Northern Trust was appointed following a detailed review based on Western Australia State procurement policies. Thomas Murray, an international consulting firm, assisted with the review process.
“We are delighted to be appointed by GESB,” says Rohan Singh, country head of Northern Trust Australia. “As the superannuation environment continues to evolve, we remain focused on helping our clients enhance their investment operating models, and address the ever increasing complexity around regulatory reporting and portfolio oversight. GESB has a rich history with seven decades of helping its members in Western Australia, and we look forward to helping GESB continue to meet its objectives.”
