Northern Trust Delivers Increased Operating Efficiency for Commonwealth
MELBOURNE, Australia -- February 27, 2013
Northern Trust today announced it has successfully completed the
implementation and integration of Commonwealth Superannuation Corporation
(CSC) onto its technology platform.
Northern Trust was appointed to provide master custody and related services to
the AU$26bn fund in late 2011 and during the past year completed the
transition of CSC’s custody arrangements.
CSC was established in July 2011 as the result of a merger between the
Australian Reward Investment Alliance (ARIA) and the Military Superannuation
and Benefits (MSB) Board.
During the past year Northern Trust also implemented a restructure of the ARIA
Investment Trust and completed 30 June 2012 year-end reporting.
Rohan Singh, Managing Director Northern Trust Australia, said: “Northern
Trust’s ability to deliver a range of online services and provide clients such
as CSC with access to data for exposure and transparency purposes is key to
managing risk on a real time basis.”
“Northern Trust continues to develop innovative solutions and looks forward to
delivering significant value to CSC and all its clients in Australia and New
Zealand as they navigate a period of significant change and an environment of
increased regulatory oversight.”
Leonie McCracken, Senior Executive Operations at CSC said Northern Trust has
provided CSC with a truly global asset servicing solution. “The advantages of
the service capabilities that we saw during the period of due diligence are
being delivered. Northern Trust’s online web portal, Passport, assists CSC to
manage daily operational risk in an automated manner. In addition, the fully
integrated tax system is providing accurate and fully optimised tax
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment
management, asset and fund administration, banking solutions and fiduciary
services for corporations, institutions and affluent individuals worldwide.
Northern Trust, a financial holding company based in Chicago, has offices in
18 U.S. states and 16 international locations in North America, Europe, the
Middle East and the Asia-Pacific region. As of December 31, 2012, Northern
Trust had assets under custody of US$4.8 trillion, and assets under investment
management of US$758.9 billion. For more than 120 years, Northern Trust has
earned distinction as an industry leader in combining exceptional service and
expertise with innovative products and technology. For more information, visit
www.northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation
Asia-Pacific and North America
Europe, Middle East and Africa
+44 (0) 207 982 2176
Press spacebar to pause and continue. Press esc to stop.