Northern Trust Increases UK Pension Fund Assets with 10 New Custody Clients
By Northern Trust Corporation, PRNEWednesday, March 10, 2010
LONDON, March 11, 2010 - Northern Trust (Nasdaq: NTRS) announced today that its UK pension fund
custody business grew in 2009, with 10 new clients and US$13 billion in new
assets under custody. Northern Trust provides custody and related services to
approximately one-third of the top 200 pension funds in the UK and one-third
of all UK local government pension funds, including the British
Telecommunication pension scheme and Strathclyde Pension Fund, the largest
fund in each category.
"As the retirement market evolves and requirements become increasingly
sophisticated, clients are seeking not only an excellent service, but also
insights and opinions from us to help inform their decision-making," said
Peter Holman, head of the Institutional Investor Group for Europe Middle East
and Africa (EMEA), at Northern Trust.
"As a new decade dawns and fresh challenges emerge, Northern Trust
remains committed to building on its reputation of providing clients with
innovative and market-leading solutions. Examples are our Retirement
Solutions Practice and specific services such as cross border pension
pooling, enhanced reporting tools and advanced analytical services," Holman
added.
Northern Trust's Retirement Solutions Practice was formed in 2009. It is
a dedicated group to help pension funds clients in EMEA navigate the
complexities of the evolving retirement market. The Practice, which comprises
asset servicing and asset management individuals from across a range of
Northern Trust's areas of discipline, provides clients with access to
specific industry knowledge and resources, and understanding of pensions,
investments, governance and regulatory issues.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of
investment management, asset and fund administration, banking solutions and
fiduciary services for corporations, institutions and affluent individuals
worldwide. Northern Trust, a financial holding company based in Chicago, has
offices in 18 U.S. states and 16 international locations in North America,
Europe, the Middle East and the Asia-Pacific region. As of December 31, 2009,
Northern Trust had assets under custody of US$3.7 trillion, and assets under
investment management of US$627.2 billion. For 120 years, Northern Trust has
earned distinction as an industry leader in combining exceptional service and
expertise with innovative products and technology. For more information,
visit www.northerntrust.com.
- Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission. - Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission. - Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator. - Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank. - Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF). - Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF). - Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates. - The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation. - The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority. - The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission. - The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore. - The Northern Trust Company operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission. - Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency. - Northern Trust Global Services Ltd (UK) Sweden Filial is authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
EMEA, Camilla Greene, +44-(0)-207-982-2176, Camilla_Greene at ntrs.com, US, Canada & APAC, John O'Connell, +1-312-444-2388, John_O'Connell at ntrs.com, both of Northern Trust Corporation
Tags: England, London, March 11, Northern Trust Corporation