MELBOURNE, Australia – 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.
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.
