Mercer has selected Northern Trust Company (NTC) as new custodian for its investment and superannuation funds in Australia.
Under the partnership, Northern Trust will assume custody and investment administration of Mercer’s funds in Australia.
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NTC replaces NAB Asset Servicing (NAS) as custodian of Mercer’s funds in the Australian market.
Mercer Investments Business leader in the Pacific market Simon Eagleton 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 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 added.
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