Northern Trust today celebrated the 20th anniversary of its Toronto office and Canadian subsidiary, which was established on April 8, 1991.
Northern Trusts Canada office offers global custody and a variety of related services, including securities lending, benefit payments, investment risk and analytical services, transition management, fund administration and cross-border pooling for multinational pension funds. Asset management services have also expanded to include investment outsourcing programs for pension plans, real estate and index fund management.
We are delighted to celebrate two decades of success in Canada, said Northern Trust Chairman and CEO Frederick H. Waddell.
Other custodians active in the Canadian market are RBC Dexia and CIBC Mellon, both top rated providers in Global Custodians annual Survey of Agent Banks in Major Markets. Citi has also made a big a push into the Canadian market in recent years, and State Street offers custody in Canada as well.
We aim to help Canadian institutional investors manage an increasingly complex financial, economic and regulatory environment, says Rob Baillie, president and CEO for Northern Trust Canada. The Canadian market has embraced our approach, with assets under administration growing by 20% in just the last 2 years.
For more on Canadian custody, see “After the thaw,” Global Custodian, Winter Plus 2010.