Northern Trust to Oversee $18.5B NM Retirement Fund

Northern Trust to Oversee $18.5B New Mexico Retirement Fund

Northern Trust has been selected by the State of New Mexico Educational Retirement Board (NMERB) to provide asset servicing solutions to the $18.5 billion fund including custody, accounting, post-trade compliance, performance measurement and advanced support for alternative and derivative investments as well as their financial reporting requirements.

NMERB provides retirement benefits to active and retired employees of New Mexico public schools, institutions of higher learning and certain employees at state agencies who work in educational programs.

“We’re proud to support NMERB as they continue to advance their investment operations,” said Melanie Pickett, head of Asset Servicing, Americas. “As asset servicing provider to nearly 250 public fund clients, including more than 40 new mandates in the last five years, our growth reflects the value we place on collaboration, tailored client service, and continuous improvement. By leveraging Northern Trust’s advanced analytics and streamlined reporting tools, NMERB can enhance transparency for its stakeholders and improve decision-making processes for its investment team.”

David Archuleta, executive director at NMERB, said: “From the start, Northern Trust demonstrated a genuine commitment to understanding our needs and being a true extension of our team. We’re confident that their attentive, responsive service model and strong focus on operational efficiencies will strengthen NMERB’s ability to serve its members.”