South Korea's National Pension Corporation, the manager of Korea's $53 billion national pension system, intends to select an investment consultant by the end of this month, to be quickly followed by choosing a trustee, a custodian and investment managers, according to people familiar with NPC.
Four investment consultants are in the race, with Frank Russell and Watson Wyatt tipped to have an edge over William M Mercer and Callan Associates. Frank Russell is a powerful force in Japan, where for years it has acted as the gatekeeper to the Pension Welfare Service Corporation, known as Nenpuku and recently reorganized as the Government Pension Investment Fund - a mandate that opened the door to blue...
