Northern Trust announced today it has been selected as global custodian for Wake Forest University, a private university in Winston-Salem, N.C., that is consistently ranked among the top academic institutions for both undergraduate and graduate studies. Northern Trust will service approximately $1.1 billion in endowment assets.
"Wake Forest University can rely on Northern Trust for our strong commitment to client service and innovation in custody and reporting solutions that provide increased transparency into complex investment portfolios," said David W. Fox Jr., head of Corporate & Institutional Services in the Americas for Northern Trust. "We look forward to a long-term relationship that supports the investment strategies and the specific accounting and risk management needs of this significant client."
"We are excited to work with Northern Trust," said Vicki West, Director of Operations for the Office of Investments. "Their commitment to providing global expertise, a culture based on specialized service, and flexibility to meet both our current and future needs aligns well with our goals of 'protect, perform, provide' - protecting the endowment, performing over inflation, and providing for our students."
Wake Forest University combines the best traditions of a small liberal arts college with the resources of a large research university. Wake Forest University is comprised of two undergraduate programs, a graduate school of arts and sciences and four professional schools. The global custody service includes assets of Wake Forest University Health Sciences, which is affiliated with the University.
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 17 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.