Northern Trust has been appointed custodian by Rensselaer Polytechnic Institute for $1 billion in endowment, pension and other assets. Services provided will also include performance measurement and securities lending.
Rensselaer Polytechnic Institute, founded in 1824, is the nation’s oldest technological university. Rensselaer faculty are known for pre-eminence in research conducted in a wide range of fields, with particular emphasis in biotechnology, nanotechnology, information technology, and the media arts and technology.
“Northern Trust is a recognized leader in the asset services business,” said Wale Adeosun, Treasurer and Chief Investment Officer, Rensselaer Polytechnic Institute. “As the Institute expands, guided by The Rensselaer Plan, the complexity of our investments grows. We look forward to working with Northern Trust’s suite of on-line tools and leveraging their experience with major endowments and complex portfolios.”
“We are very pleased to have been selected by the Rensselaer Polytechnic Institute to serve as their custodian, as well as to provide them with performance measurement and securities lending services,” said Louisa Taylor, senior vice president, Northern Trust. “They are one of the nation’s preeminent institutions of higher learning, and we looking forward to building a strong and lasting relationship.”