Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Investment

Perpetual IM switches member admin provider

Perpetual Investment Management has awarded MUFG Pension & Market Services (MPMS) a mandate to oversee its investor and member administration services.

MUFG Corporate Markets will provide services across unlisted registry, listed registry, corporate registry and ETPs. MUFG Retirement Solutions will provide superannuation administration services.

MPMS replaces Tech Mahindra, which began its partnership with Perpetual in 2013 providing registry services for its wholesale, WealthFocus and Select Investment funds, superannuation and pension products.

Perpetual chief operating officer for Australia Daren Donnellan said: "In selecting MUFG for this complex transition, Perpetual receives a number of benefits including administrative maturity, deep client base and broad service offering. We look forward to building on this strong partnership to support our broader business goals."

MUFG Corporate Markets chief executive Lysa McKenna said: "Welcoming Perpetual as our first group-wide client continues to highlight our ability to deliver integrated, large-scale solutions that not only serve current needs but also set the stage for future growth."

"The foundations laid through this program will strengthen the platform we offer to new clients across the market and allows us to scale readily as we on-board further cross-divisional clients in the future."

Last year, GESB renewed its superannuation administration mandate with MUFG Retirement Solutions.

Former Insignia Financial chief operating and technology officer Frank Lombardo took up the role to lead MUFG Retirement Solutions in February, serving as chief executive for Australia and New Zealand.

This follows the retirement of Dee McGrath, who was with Link Group/MUFG for six years.

Read more: MUFG Retirement SolutionsMPMSMUFG Corporate MarketsDaren DonnellanDee McGrathFrank LombardoGESBInsignia FinancialLysa McKennaSelect InvestmentTech MahindraWealthFocus