Northern Trust (Nasdaq: NTRS) announced today that it has been appointed by The National Trust (the Trust) to provide global custody and related services to GB£881 million (approximately US$ 1.4 billion) in charity assets. Northern Trust currently provide solutions to over 290 charities, foundations and endowments across the globe and this latest appointment supports Northern Trust’s continuing strategy to support the needs of the charities, foundations and endowments sector worldwide.
Northern Trust will provide custody, investment accounting and performance measurement services to the Trust which, independent of government, works to preserve and protect the coastline, countryside and historic buildings of England, Wales and Northern Ireland.
“We appointed Northern Trust, following a competitive tender,” said Paul Maguire, Assistant Director, Treasury & Fund Management at the Trust. “We needed a provider who could not only support our asset servicing requirements, but one who had experience in our sector and could provide a high level of client service, supporting our changing requirements as we continue to evolve.”
“The charities, foundations and endowments sector is a key area of focus for us and we are delighted to have been appointed by The National Trust,” said Penelope Biggs, head of the Institutional Investor Group for Europe, Middle East and Africa, at Northern Trust. “We understand this sector has unique challenges – such as complex regulatory and administrative demands – and through our array of sophisticated asset servicing solutions we can help our clients gain greater control of the financial details.”
As of September 30, 2010, Northern Trust had assets under custody of US$3.9 trillion across all sectors, including institutions, such as pension funds, charities and foundations, insurance companies, sovereign wealth funds and families worldwide, and private investors worldwide.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2010, Northern Trust had assets under custody of US$3.9 trillion, and assets under investment management of US$657.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.