LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) Northern Trust announced today that it has added US$26 billion in assets under custody for new UK pension fund clients during 2011. This growth is attributed to 13 significant new client wins, including the US$5 billion Lothian pension fund, the US$7.5 billion Lancashire County Council and the US$2.4 billion SAUL (Superannuation Arrangements of University of London) Trustee Company.
“We are delighted to continue to expand our footprint in the UK pensions arena,” said Douglas Gee, head of sales for Northern Trust’s Institutional Investor Group (IIG) for the UK and Ireland. “Our UK pension fund clients face unique challenges and regulatory pressures and in line with our continuing focus on supporting their requirements, 2011 also saw the launch of our Institutional Governance Services, a part of Northern Trust’s Retirement Solutions Practice.”
The service enables institutional investors, such as pension funds, to easily aggregate and analyse wide ranging information across their portfolio, through a new suite of data and product solutions, helping them meet their increasing risk management, governance and transparency requirements.
“In today’s new world, governance and risk management are centre stage,” said Penelope Biggs, head of IIG. “It’s no longer sufficient for institutional investors to have a high level view of their portfolio, they need and want to know in depth about issues such as the underlying make-up of pooled funds, counterparties in security lending, industry and country exposures and regulatory disclosures – and they need those answers before they get to work, not at month end.”
“By providing institutional investors with the tools and technology needed to manage their business based on data driven insight, Institutional Governance Services will ensure strong oversight, informed decision making and compliance with industry and regulatory requirements,” added Gee.
Northern Trust provides custody and related services to approximately 34 percent of the top 200 pension funds in the UK and 36 percent of all UK Local Government Pension Schemes, and over the past three years, has added more than US$80 billion in assets under custody on behalf of new UK pension fund clients. Its Institutional Governance Services offering is available to all its institutional clients and, developed in line with individual client requirements, provides a highly focused level of information to help pension funds meet their regulatory requirements.
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, 2011, Northern Trust had assets under custody of US$4.3 trillion, and assets under investment management of US$662.9 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 or follow us on Twitter @NorthernTrust.
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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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