Russell picks up Australian Ethical Super admin contract
Australian Ethical Super has appointed Russell Investments as the administration provider for its 14,000 members.
The super fund will drop Pillar administration and transfer to Russell in March next year after a tender process in which Russell won favour.
Australian Ethical Super CEO Phillip Vernon said members would gain increased access and functionality as well as greater control over their superannuation savings.
"The fact we will be able to provide members with best practice innovative services through a more competitive cost structure is very compelling," said Vernon.
Russell's managing director, infrastructure, Siva Sivakumaran said, "Our administration business is focused on developing innovative, flexible and customisable solutions, and we've invested heavily in technology and operational efficiencies that deliver client value. This model is attracting funds of all sizes and our business continues to grow."
Prime Super transferred to Russell Investments administration platform in January this year after the company invested significant resources in bolstering its service.
Russell launched a new administration model in January last year, bringing 75 outsourced roles inhouse. In July last year, it invested in Bravura's Sonata platform to administer its retail products.
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