Defined benefit (DB) pension scheme manager Brightwell has renewed its partnership with Northern Trust.
As part of the renewed mandate, Northern Trust will continue to provide Brightwell’s investment operations.
Brightwell offers member services, advisory and funding and fiduciary services, primarily to BT Pensions Scheme (BTPS), used by BT employees, former employees and dependents of BT Group.
As of end-June 2022 BTPS held £46.9 billion in assets under management, making it one of the 10 largest pension schemes in the UK.
The company has also begun to extend these services to similar DB schemes, with a fiduciary management deal recently announced with the DB section of the EE pension scheme.
Peter James, chief investment administration officer at Brightwell, says: “Northern Trust’s capabilities support our focus on delivering sustainable funding, investment solutions and member services to UK pension scheme clients to help them reach their endgame objectives. Reappointing Northern Trust reflects its track record of service delivery for us, and our confidence in its technological capacity to support our strategic priorities over the long term.”
Laurence Everitt, head of global fund services, UK, at Northern Trust, adds: “Northern Trust’s services provide investment managers with the infrastructure to support diverse and complex investments. Our reappointment by Brightwell shows the strategic and cultural alignment between both organisations, and we are excited to support our client as it continues to develop its business.”
