The Euro 440m London Borough of Haringey Pension Fund, has selected Northern Trust to provide a full range of global custody services, including related securities services, cash management, and Web-based reporting and accounting.
“We are very pleased to have been selected by Haringey” said Jeremy Hester, vice president, and head of UK business development, Northern Trust London, “Haringey becomes our 22nd local government fund client in the UK, and is a further endorsement of our commitment to this key sector of the UK pensions industry. The core issue for Haringey was an understanding of best-value initiatives, and how the chosen custodian might achieve this for the fund. Our local authority expertise, client servicing culture and Passport information system capabilities were some of the ways we are able to demonstrate our ability to offer best-value benefits for Haringey. We look forward to building a strong relationship with them.”
The formal search had narrowed to three providers when the decision to appoint Northern Trust was made. Hymans Roberston assisted the fund in its review of custodians.