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Asset Servicing News | May 14, 2024

Northern Trust Appointed as Custodian for Firefighters’ Retirement System of Louisiana

CHICAGO — – Northern Trust (Nasdaq: NTRS) announced today that it has been selected by the Firefighters’ Retirement System (FRS) of Louisiana to provide asset servicing and data analytics capabilities for the $2.4 billion (as of 3/31/24) fund.

FRS of Louisiana is a governmental defined benefit pension plan, established by the state legislature in 1980 to provide retirement and other benefits for Louisiana firefighters. FRS selected Northern Trust for its innovative technology and tailored services.

“Northern Trust is one of the market leaders in supporting the sophisticated needs of the asset owner community and we are thrilled to be selected by the Firefighters’ Retirement System of Louisiana,” said Melanie Pickett, Head of Asset Owners, Americas at Northern Trust. “Their decision validates our commitment to driving innovation and excellence in the public fund sector as well as our focus on growth in the state of Louisiana.”

“As we look to improve operational efficiency in our fund, Northern Trust’s advanced technology and client-centric culture differentiated them from the competition and demonstrated that they were the best choice to help us achieve our goals,” said Michael Becker, CIO of Firefighters’ Retirement System of Louisiana. “We look forward to working with Northern Trust as we advance our mission for the firefighters of our state.”

Northern Trust has had an unwavering commitment to the asset owner space for many decades. The goal within the asset owner segment is to empower the missions of its clients, helping them to maximize investment returns so that they may then serve their constituents, their communities, and the world.

 

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 24 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, 2024, Northern Trust had assets under custody/administration of US$16.5 trillion, and assets under management of US$1.5 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 (formerly 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.