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Asset Servicing News

Northern Trust Appointed Global Custodian by Abu Dhabi Pension Fund

Multi-asset class solution to provide integrated public and private asset support.

Northern Trust (Nasdaq: NTRS) announced today that it has been appointed by Abu Dhabi Pension Fund (ADPF) (effective 1 January 2024) to provide a suite of services, including global custody, alternative asset administration through Front Office Solutions, liquidity solutions, performance and risk analytics, and compliance monitoring.

Abu Dhabi Pension Fund (ADPF) is a growing pool of sovereign sponsored pension assets in the Middle East. Tasked with managing contributions, pensions and end-of-service benefits for United Arab Emirates (UAE) nationals affiliated with the government and private sectors in Abu Dhabi, the ADPF also extends its services to the retirees and their beneficiaries. Its commitment lies in offering value-added services to clients and ensuring the efficiency of its investment strategy.

Northern Trust was selected by ADPF because of its asset servicing expertise specifically designed for complex asset owners, its commitment to the region and solutioning that aggregates accounting, reporting and analytics across both public and private assets. Abu Dhabi Pension Fund will engage Northern Trust’s data aggregation and customer relations management (CRM) capabilities, available through its Front Office Solutions offering, to aid them in investment allocation, liquidity management and portfolio optimization.   

James Wright, head of Asset Owners, EMEA at Northern Trust, commented, “We are delighted that Abu Dhabi Pension Fund has appointed us as their global custodian. As a leading provider in the region with more than 35 years of experience in servicing clients in the Middle East, we are excited to continue to grow in the market and are committed to delivering client-centred solutions to large, complex asset owners.”                                                                                      

Ali Alqemzi, Chief Operating Officer for Investment at Abu Dhabi Pension Fund, remarked, “Northern Trust stood out due to their focus on asset owners, particularly those with sophisticated allocations across public and private assets. Their ability to adapt to the evolving financial landscape, as evidenced by their investment in technology and development of solutions that are targeted to funds such as ourselves, is important to us as we grow, and our asset allocation needs evolve.”

With more than 1,800 global asset owner clients across sovereign wealth funds, corporations, not-for-profits, public funds, insurance companies, and central banks, Northern Trust has an unwavering commitment to support the increasingly sophisticated needs of complex asset owners and allocators.

 

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 25 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2023, 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. Visit us on northerntrust.com. Follow us on X (previously Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

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 https://www.northerntrust.com/terms-and-conditions.