Era Life selects Northern Belief on $1.5b | Australian Markets
Northern Belief has expanded its attain within the Australian asset servicing market, with Era Life enlisting the worldwide giant to supply custody and valuation reporting companies.
Below the new remit, Northern Belief will present assist to $1.5 billion (as of 31 January 2025) of the Australian life insurer’s portfolio belongings, together with home and worldwide equities, bonds, FX, and SICAVs.
Era Life chief govt Felipe Araujo hailed the deal as “an important partnership” for the firm, aligning with its key strategic initiatives.
“Northern Trust’s focus on investment in digital technology strongly aligns with our objective to deliver a scalable operating model to support our growth ambitions and enhance the experience for our clients,” he mentioned.
Based in 2007 and based mostly in Melbourne, Era Life oversees more than $3.8 billion in investor funds (as on the finish of 2024).
The life insurer touts its tax-effective investment options, together with being among the many first to introduce a versatile investment bond to Australia.
Northern Belief nation head of Australia Leon Stavrou mentioned its choice by Era Life would help the life insurer obtain “operational excellence”.
He added: “Northern Trust’s position as one of Australia’s leading asset servicing providers allows us to dedicate resources and tailor capabilities to meet our clients’ unique needs.”
Northern Belief oversees US$16.8 trillion of belongings below custody/administration globally.
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