The IWA Forest Industry Pension Plan has named Northern Trust as global custodian for the C$3.1 billion pension fund serving nearly 70,000 members of Canada's forest industry. As custodian of the assets, Northern Trust will also provide investment accounting, securities lending, compliance monitoring and performance services to the plan.
"Superior technology and expertise in alternative assets were key reasons for our selection of Northern Trust," said Colleen Troelstrup, Director, Investments for the IWA Forest Industry Pension Plan. "Improved risk and performance analytics as well as user friendly presentation will enable enhanced reporting and more efficient internal processes. In addition, Northern Trust supports our expanding allocation to alternative investments with experienced staff and market-leading tools to monitor and manage a range of asset classes."
The IWA Forest Industry Pension Plan is jointly funded by approximately 400 participating companies and close to 70,000 members. The administration of the Plan is overseen by a Board of Trustees equally representing the United Steelworkers (formerly I.W.A. Canada) and forest industry employers.
"We are delighted to announce the IWA Forest Industry Pension Plan as a significant new client," said Arti Sharma, President and CEO of The Northern Trust Company, Canada. "With our strong service culture and ability to enhance efficiency through technology, Northern Trust can help the Plan better serve its members. We are committed to continued product and technology innovation and service excellence to maintain our growth in the Canadian institutional market."
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 18 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2013, Northern Trust had assets under custody of US$5.2 trillion, and assets under investment management of US$846.2 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 or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures
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