Milwaukee pension in the hands of Northern Trust again
12 May 2014 Milwaukee
Image: Shutterstock
Northern Trust is entrusted again with the Milwaukee pension fund.
The City of Milwaukee’s Employees Retirement System (CMERS) has reappointed Northern Trust as the fund’s global custodian.
CMERS has previously worked with Northern Trust, which has provided securities lending, custody and compliance services for the $4.9 billion fund.
Northern Trust has signed a fiver-year contract with CMERS, where it will continue to provide the same services as before.
David Silber, chief investment officer of CMERS, said: "We're satisfied with Northern Trust. We had good faith negotiations with them. They've done well, and there's always a little risk to change custodians."
The City of Milwaukee’s Employees Retirement System (CMERS) has reappointed Northern Trust as the fund’s global custodian.
CMERS has previously worked with Northern Trust, which has provided securities lending, custody and compliance services for the $4.9 billion fund.
Northern Trust has signed a fiver-year contract with CMERS, where it will continue to provide the same services as before.
David Silber, chief investment officer of CMERS, said: "We're satisfied with Northern Trust. We had good faith negotiations with them. They've done well, and there's always a little risk to change custodians."
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