Northern Trust Wins 18 New Asset Servicing Mandates with UK Pension Funds in 2020
LONDON – Northern Trust (Nasdaq: NTRS) has been awarded mandates to support 18 new UK pension fund clients with assets under custody of almost US$27 billion.
These mandates include comprehensive support for pensions’ increasing focus on data management and the delivery of reporting and analytics to support oversight of their traditional and alternative investments. This includes delivering heightened transparency over schemes’ environmental, social and governance (ESG) risk exposures through Northern Trust’s ESG Insights service, launched and extended during 2020.
New clients won in 2020 included corporate and local government pension schemes. This continued business growth underscores Northern Trust’s commitment to the UK’s retirement industry.
Mark Austin, head of UK, Institutional Investor Group (IIG) at Northern Trust, comments: “Northern Trust supports pension funds across their day-to-day investment functions, while delivering solutions to help them meet their governance, financial reporting and risk management obligations. As 2020 presented unprecedented challenges, and the COVID-19 pandemic exacerbated existing industry pressures, we continued to evolve our services and support our clients’ focus on ensuring good retirement outcomes for members.”
Northern Trust’s IIG provides services to more than 290 UK pension funds with collectively more than US$945 billion (as at 31 December 2020) in assets under custody. Clients serviced include defined contribution master trusts, defined benefit corporate schemes and funds of the UK Local Government Pension Scheme, with assets varying in size from US$20 million to US$60 billion.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2020, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
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