CHANNEL ISLANDS, UK--(BUSINESS WIRE)--Northern Trust (Nasdaq:NTRS) has been named as Guernsey’s largest fund administrator and custodian for the fifth year in a row by Lipper in its 17th annual analysis of the island’s fund industry. Following this continuing business momentum, Paul Cutts now assumes his role as country head for the Channel Islands.
Lipper, a Thomson Reuters company, is a global leader in supplying mutual fund information and fund ratings, fund analytical tools and fund commentary. It provides the only comprehensive analysis of service providers for all serviced funds on the island, in the Guernsey Fund Encyclopedia which this year lists Northern Trust as the largest administrator of both domiciled and non-domiciled funds with total net assets under administration of US$67 billion and the largest proportion of assets under custody (US$31.7bn).
“I am delighted to arrive in Guernsey as we announce this important ranking for the fifth year in a row,” said Cutts. “Lipper shows fund assets serviced in Guernsey have risen by 20 percent over the year to 30 June 2011 and I look forward to being a part of this growing global funds servicing hub which is an important jurisdiction for Northern Trust.”
Cutts joined Northern Trust in 1993 and most recently was managing director for Northern Trust’s Melbourne office. He replaces Northern Trust veteran Vic Holmes, who has retired, following a 26 year career at Northern Trust, including leadership roles in Guernsey and Ireland.
“Since his appointment in February 2007 to lead Northern Trust’s Channel Islands business, Vic has made a key contribution to supporting the continued growth of our global fund services business across the region,” said Wilson Leech, Chief Executive Officer for Northern Trust in Europe, Middle East and Africa. “We are pleased to now welcome Paul, whose expertise and experience working with Northern Trust’s clients across the globe, will continue to build on Vic’s contribution and position our Channel Island offices as key centres of fund administration.”
Northern Trust has had a presence in the Channel Islands since 1972 and today is one of the largest financial services employers in the region. From its offices in Guernsey and Jersey, Northern Trust works with some of the most successful and innovative investment managers across the globe, and service a wide variety of traditional and alternative asset classes, including private equity funds, hedge funds, real estate funds, infrastructure funds and funds of funds.
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 September 30, 2011,
Northern Trust had assets under custody of US$4.1 trillion, and assets
under investment management of US$644.2 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, Northern Trust Securities 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 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 Investments Limited has a Netherlands branch, which is authorised by the Financial Services Authority and subject to regulation in the Netherlands by the Autoriteit Financiële Markten. Northern Trust Global Services Limited has a Netherlands Branch, which is authorised and regulated in the Netherlands by De Nederlandsche Bank. Northern Trust Global Investments Limited has a Sweden branch, which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen. Northern Trust Global Services Ltd (UK) Sweden Filial is authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen. Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office. Our registered office is authorised and regulated by the Central Bank of the United Arab Emirates. 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 has a branch in China regulated by the China Banking Regulatory Commission. The Northern Trust Company of Hong Kong Limited is regulated by the Hong Kong Securities and Futures Commission. Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency. 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 Canada as The Northern Trust Company, Canada Branch, which is an authorised 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 authorised 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.
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