MUFG completes Perpetual onboarding for cross-divisional mandate
MUFG Pension & Market Services has completed the onboarding of Perpetual Investment Management Limited as its first group-wide client under a combined investor and member administration services mandate.
Perpetual has engaged MUFG for a suite of services including unlisted registry, listed registry, corporate registry, and exchange traded products through MUFG Corporate Markets, as well as superannuation administration services via MUFG Retirement Solutions.
The engagement brings together MUFG's Corporate Markets and Retirement Solutions businesses under one mandate for Perpetual, following a significant transition programme managed by teams across both divisions.
Migration work
This delivery involved the migration of a substantial unlisted registry, which required the development of new system capabilities and enhancements to existing online portals. MPMS also oversaw the transfer of member accounts covering multiple superannuation and pension plans.
The successful execution of these migrations demonstrates MUFG's capability to manage full administration solutions for advice-led retail superannuation funds. These projects were handled by a multi-disciplinary team integrating operational, technological, and client service areas.
"This achievement reflects the deep capability and commitment of our people. Welcoming Perpetual as our first group-wide client continues to highlight our ability to deliver integrated, large-scale solutions that not only serve current needs but also set the stage for future growth," said Lysa McKenna, CEO, MUFG Corporate Markets. "The foundations laid through this program will strengthen the platform we offer to new clients across the market and allows us to scale readily as we on-board further cross-divisional clients in the future."
Next steps
MPMS stated that the transition and integration work undertaken with Perpetual supports its ongoing strategic growth aims, enabling the business to offer scalable solutions to future clients requiring cross-divisional administration.
The development of new functionality during the transition is intended to enhance the user experience for Perpetual's clients, further extending the digital and operational capabilities available on MUFG's platforms.
From Perpetual's perspective, the decision to appoint MUFG followed a review of the complexities involved in the transition and the benefits of engaging a provider with scale and depth across registry and administration services.
"We are excited to be working with MUFG Pension & Market Services and are pleased with the execution of this migration," said Daren Donnellan, Perpetual Chief Operating Officer, Australia. "In selecting MUFG for this complex transition, Perpetual receives a number of benefits including administrative maturity, deep client base and broad service offering. We look forward to building on this strong partnership to support our broader business goals."
Context
Perpetual operates across asset management, wealth management, and trustee services, with offices in Australia, Asia, Europe, the United Kingdom, and the United States. Its registry and superannuation requirements span these businesses and client groups.
MUFG Pension & Market Services is a part of the wider MUFG Group. Its Australian operations offer both retirement and corporate markets services, providing scalable technology, data management, and compliance support for funds and investment entities.
The onboarding of Perpetual is seen by MPMS as a demonstration of its ability to cater to sophisticated, multi-faceted financial institutions operating across several markets. The transition involved significant change management and technical development, underpinned by collaboration between the two firms.
