More NewsBabcock Group Awards Northern Trust £2bn Mandate

Babcock Group Awards Northern Trust £2bn Mandate

Babcock International Group has appointed Northern Trust to provide global custody, transition management, investment accounting and performance measurement services to £2bn in pension fund assets for Babcock’s pension schemes.

Babcock is the leading engineering support services company operating in the marine support services and defence businesses in the UK and overseas. It has achieved industry recognition for its innovative investment strategy within the pensions marketplace – with three of its pension funds first to conduct longevity swaps in 2009.

“The Trustee Investment subcommittee appointed Northern Trust following a competitive tendering process,” said Andrew Birkett, group pensions manager at Babcock. “We wanted an asset servicing partner to help us with the next stage of our evolution as we look to consolidate our investment accounting and reporting strategy across all four Babcock pension schemes.”

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