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Asset Servicing News

Northern Trust Provides Middle Office Services for Martin Currie Investment Management

Supporting US$21 Billion Investment Manager’s Focus on Operating Model Efficiency and Robustness

LONDON – Northern Trust (Nasdaq: NTRS) is providing middle office services for Martin Currie Investment Management (Martin Currie) in the United Kingdom (UK).

Martin Currie is a long-term global equity growth investor with assets under management (AuM) of £15.4 billion (approximately US$21.2 billion). It is a specialist investment manager of parent company Franklin Resources, Inc., a global organization with AuM totaling US$1.5 trillion (all figures as of 31 March 2021).

Martin Currie has completed the migration of outsourced investment operations functions to Northern Trust for its book of assets managed from UK offices in Edinburgh and London. These include performance measurement and client reporting activities that were previously managed in-house.

Selecting Northern Trust for middle office services supports Martin Currie’s strategy of globalizing its operating model to enhance efficiencies and consistency of approach. The appointment mirrors arrangements it has in place for its Australian business, which is also supported by Northern Trust.

Euan Wilson, chief administration officer at Martin Currie, said: “As we work to create long-term, sustainable value for investors, our choice of middle office services provider is crucial for the data required to inform our decision-making and support the smooth flow of everyday investment functions. Northern Trust’s ability to demonstrate operational robustness and to integrate with our order management system were among the key reasons for this appointment.” 

Laurence Everitt, head of Global Fund Services, UK, at Northern Trust, said: “We are pleased to support the evolution of Martin Currie’s operating model and its approach of helping maximize efficiencies by outsourcing selected functions. As investment managers explore how best to focus their resources, Northern Trust has the technology, global scale and flexibility to help drive operational performance, support their governance and shorten time to market.”                                  

Northern Trust’s middle office services are part of its Whole Office™ strategy. Northern Trust Whole Office is an advanced open architecture, multi-asset class solution serving diverse market participants, including asset managers, asset owners, 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.

Northern Trust’s Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.

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 22 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.

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