ATP (Arbejdsmarkedets Tillægspension), the Danish Labour Market Supplementary Pension Scheme and its subsidiaries, has appointed Northern Trust (Nasdaq: NTRS) to provide custody and related services to approximately US$106 billion pension fund assets.
Under the terms of the agreements, Northern Trust will provide custody and collateral management services for the pension fund, ranked the largest in Denmark.
We appointed Northern Trust based on their ability to deliver a tailored custody and collateral management solution that supports our objective of achieving consistently top rates of operational efficiency, said Henrik Gade Jepsen, CIO at ATP. Their established presence and experience supporting pension funds, as well as their global servicing capabilities were key factors in their appointment.
Listed as a top 20 pension fund globally by the directory International Pension Funds and their Advisors, ATP administers a number of schemes under statutory regulation. Its purpose is to pay a lifelong supplementary pension to wage earners in Denmark on the basis of payments from wage earners and employers.
ATP is one of the largest and most highly-regarded institutional investors in the world and we are delighted to extend our custody and asset servicing solutions to this Danish fund, said Steven L. Fradkin, President, Corporate and Institutional Services Group at Northern Trust. By combining our expertise and on the ground presence with our scale as a global custodian and fund administrator, we believe we are well positioned to support the needs of sophisticated institutions such as ATP and look forward to working with them and other Danish clients in the future.
Northern Trust works with some of the most sophisticated, premier institutional funds and investment managers in the Nordics, said Wilson Leech, CEO Europe, Middle East and Africa (EMEA) at Northern Trust. Particularly as our clients navigate the evolving regulatory landscape and face an increasingly challenging economic environment, they look to us to not only provide them with high-quality services to support their investment management decision making, but also the ability to partner with them for the long term and adapt with them as their requirements change.
Northern Trusts Institutional Investor Group provides custody and related services to around 1000 pension fund clients across the globe, with a greater than 20 percent market share in the pension and insurance sector in each of Denmark, Finland, Norway and Sweden. From its branch office in Stockholm it offers an array of administration and investment solutions for asset owners and asset managers across the Nordic region. It has an experienced local client service team who have long-term relationships helping some of the regions largest institutional investors manage risk, reduce cost and improve efficiency.
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 March 31, 2013, Northern Trust had assets under custody of US$5 trillion, and assets under investment management of US$810.2 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. © 2013 Northern Trust Corporation.
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