Northern Trust been reappointed for a 1.5 billion mandate to provide global custody, securities lending, cash and foreign exchange services for Superannuation Arrangements of University of London (SAUL).
SAUL has been a Northern Trust client since 2003. As part of the reappointment Northern Trust will act as master record keeper for private equity and infrastructure funds and has also extended its services to include investment risk and analytics (IRAS) across the portfolio.
“We were looking for a provider who could demonstrate an understanding of SAUL’s needs and strategy whilst being able to help us meet our future objectives of reducing administration costs, improving internal governance and maximising investment returns,” said Penny Green, chief executive, managing director, SAUL Trustee Company. “Following our strategic review, we were delighted to continue our long standing relationship with Northern Trust whose level of service is best matched to suit our long term objectives.”
(JDC)