Northern trust has completed the implementation and integration of Commonwealth Superannuation Corporation (CSC) on to its technology platform.
CSC was established in July 2011 as a result of a merger between the Australian Reward Investment Alliance and the Military Superannuation and Benefits Board.
Northern Trust was appointed to provide master custody and related services to the AU$26 billion fund in late 2011 and in the last year completed the transition of CSC’s custody arrangements.
Rohan Singh, managing director of 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 of operations at CSC, said: “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 reporting.”
