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REST appointed by AkzoNobel
REST Industry Super's corporate division, Acumen, has been appointed as the preferred supplier of superannuation services by AkzoNobel, the world's largest paint company.
The appointment will bring in $63 million in funds under management to Acumen, along with 600 new members.
REST chief executive Damian Hill said that the deal was a "massive vote of confidence in the Acumen product by a global organisation", and followed an exhaustive two-year tender process.
"The strength of the Acumen product and REST's service capabilities proved critical in winning the AkzoNobel business," Hill said.
REST has 1.9 million members and manages over $20 billion in funds.
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