Northern Trust to provide asset servicing solutions for M&S pension scheme
12 October 2020 London
Image: phive2015/Adobe Stock
Northern Trust has been selected by Marks & Spencer Pension Trust (M&SPT) in the UK to provide a range of asset servicing solutions to the M&S Pension Scheme, a defined benefit (DB) pension scheme of which M&SPT is trustee.
As part of this, Northern Trust will provide global custody, financial reporting and analytical services to support M&SPT’s oversight and administration of its investment strategy, across its range of traditional, insurance and alternative investments.
These solutions include specialist fund administration and analytics for M&SPT’s private market portfolio.
In addition, the solutions will deliver transparency over its environmental social and governance (ESG) risk exposures through Northern Trust’s ESG Insights service, according to the bank.
Mark Austin, head of UK, institutional investor group at Northern Trust, commented: “As a committed partner to the retirement industry, we are delighted to support M&SPT in the stewardship of its assets.”
“Northern Trust is focused on helping UK pensions meet the challenges of the market – whether, for example, by enabling transparency over investments or supporting efforts to de-risk. Ultimately, we share the same objectives – of helping achieve good retirement outcomes for members,” Austin added.
Simon Lee, head of M&SPT and chief investment officer, said: “We require an asset servicing provider able to support the requirements of our broad, complex portfolio of investments and adapt to the scheme’s requirements as we progress through the de-risking journey.”
“By appointing Northern Trust, we knew we were selecting a team and institution with the track record, technical expertise and long-term commitment to do that.”
As part of this, Northern Trust will provide global custody, financial reporting and analytical services to support M&SPT’s oversight and administration of its investment strategy, across its range of traditional, insurance and alternative investments.
These solutions include specialist fund administration and analytics for M&SPT’s private market portfolio.
In addition, the solutions will deliver transparency over its environmental social and governance (ESG) risk exposures through Northern Trust’s ESG Insights service, according to the bank.
Mark Austin, head of UK, institutional investor group at Northern Trust, commented: “As a committed partner to the retirement industry, we are delighted to support M&SPT in the stewardship of its assets.”
“Northern Trust is focused on helping UK pensions meet the challenges of the market – whether, for example, by enabling transparency over investments or supporting efforts to de-risk. Ultimately, we share the same objectives – of helping achieve good retirement outcomes for members,” Austin added.
Simon Lee, head of M&SPT and chief investment officer, said: “We require an asset servicing provider able to support the requirements of our broad, complex portfolio of investments and adapt to the scheme’s requirements as we progress through the de-risking journey.”
“By appointing Northern Trust, we knew we were selecting a team and institution with the track record, technical expertise and long-term commitment to do that.”
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