Taylor Wimpey has consolidated its pension fund custodian to Northern Trust. Taylor Wimpey has two pension schemes as a result of the merger of George Wimpey and Taylor Woodrow in 2007. Previously, the George Wimpey scheme was managed by J.P. Morgan. Northern Trust already provided custody services for the Taylor Woodrow pension fund
Both schemes amount to approximately 1.3 billion.
We appointed Northern Trust following a competitive tender process, said Julian Waller, group pensions manager at Taylor Wimpey. We selected them based on a number of factors. Of key interest to us was Northern Trusts online client reporting solution, Passport, which was easy to use and helps us administer and report on our investments and actively monitor performance.