LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today that it has been appointed to provide global custody, securities lending, and related services to US$5 billion (more than GB£3.2 billion) in pension fund assets for the Lothian Pension Fund, one of the top 10 Local Government Pension Schemes (LGPS) in Britain by asset size. This latest mandate increases Northern Trust’s share of the Scottish LGPS market to over 60 percent as it becomes the preferred provider to seven schemes in the country.
Lothian Pension Fund serves local government employees in Edinburgh and Lothian, Scotland. With more than 170 associated employers, it has a total scheme membership of over 65,000. It sits within the City of Edinburgh Council which acts as administering authority.
“We were looking for a provider with experience in the LGPS market to support our specific requirements,” said Geik Drever, Head of Pensions and Investments at Lothian Pension Fund. “Northern Trust has an excellent reputation for servicing LGPS and this, in addition to their integrated investment accounting platform and expertise in supporting in-house managed pension schemes made them a natural choice for us.”
“We are delighted to have been appointed by Lothian Pension Fund, a further endorsement of our commitment to the LGPS market,” said Douglas Gee, UK institutional business development manager for asset servicing at Northern Trust.
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, 2010, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$643.6 billion. For more than 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 Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.
The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
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- Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (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 Central Bank of Ireland.
- 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 has a branch in China 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.