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Asset Servicing News

Northern Trust Completes Acquisition of Parilux Investment Technology

Front Office Solutions takes the next step in its Parilux partnership to serve institutional investors’ need for a holistic data solution

CHICAGO – Northern Trust Corporation (Nasdaq: NTRS) announced today that it has finalized its acquisition of Parilux Investment Technology, LLC, completing its investment in the firm and its technology that was initiated in 2018. This acquisition underscores Northern Trust’s commitment to its Front Office Solutions business, which provides a holistic data management platform for in-house investment teams managing complex, global multi-asset class portfolios.

Front Office Solutions integrates Parilux’s software with a proprietary cloud-based web and mobile interface. The leading-edge technology, combined with Northern Trust’s global operations expertise and service, delivers innovative capabilities across data aggregation, enhancement and analytics to support asset owners in their investment decision-making, execution, and administration.

“Amid the pressure for operational alpha and investment decision efficiency on the part of institutional investors, it’s not enough to simply rely on technology alone. We must combine a market-leading technology solution with deep expertise and a high-touch service model in order to be most effective for our clients,” said Melanie Pickett, Head of Front Office Solutions at Northern Trust. “By taking the final step to bring Parilux’s team and technology under our own roof, Front Office Solutions can go even further to empower in-house investment teams. This is one of many important actions we are taking at Northern Trust to further our long-standing commitment to the asset owner community.”

Pickett also now oversees the asset servicing business for endowments, foundations, healthcare organizations and public funds in the United States.

As institutional investors adopt data-driven approaches to asset allocation, their need for high quality data – and the technology to manage such data – has only increased. Northern Trust’s acquisition of Parilux addresses this need. The technology suite delivers an exceptional range of information and functionality, including investment book of record (IBOR), accounting and risk analytics for alternative assets, performance reporting and document management for investment teams of endowments, foundations, corporations, family offices and other sophisticated asset owners, focused on asset allocation and manager selection.

"Growing with Northern Trust since the initial investment in 2018 has been a positive and exciting journey,” said Mark D'Andrea, Managing Partner and CEO of Parilux. “It has been rewarding to work toward shared technology goals and serve asset owners’ needs through robust analytics, client reporting, data visualizations and an overall full-service solution."

The Parilux acquisition and integration with Front Office Solutions marks yet another step forward for Northern Trust Whole Office – an advanced open architecture, multi-asset class solution serving diverse market participants including asset owners, asset managers, investors and third-party administrators. By integrating proprietary architecture with innovative partners, Northern Trust Whole Office facilitates client access to new technologies and capabilities across the spectrum of Strategy and Trading, Operational, Data and Digital and Analytics solutions.

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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 March 31, 2021, Northern Trust had assets under custody/administration of US$14.8 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.