Northern Trust has been retained as named trustee and custodian for the Halifax Regional Municipality Master Trust ("HRMMT"), which includes two pension plans with combined assets of approximately C$1.35 billion. Northern Trust will provide custody, securities lending, and benefit payment services.
"Northern Trust's advanced technology gives us access to key data in a variety of report formats and automates our benefit payment system," said Terri Troy, Chief Executive Officer for the Halifax Regional Municipality Pension Plan. "Northern Trust's online payment system allows us to pay invoices and transfer cash between accounts on a more timely and accurate basis. We can also quickly and efficiently analyze various components of our portfolio, which aids us in the investment decision making process."
Arti Sharma, President and Chief Executive Officer of Northern Trust, Canada, said: "We are extremely pleased that we will continue to be able to work with such a well-respected institution. Our dedication to making client data both safe and accessible, in addition to personalized service, will help support plan participants and lead to continued success in the Canadian 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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