Northern Trust has formally announced that it has been appointed global custodian to Highland Council Pension Fund’s two balanced mandate portfolios, representing 394.3 million in assets. The transition dates back to July this year. The appointment followed a formal search.
“Northern Trust is pleased to have Highland Council Pension Fund as one of our local authority clients,” says Karen Lay, Relationship Manager. “We are focused on this market segment in the UK, and strive to deliver expert financial services to this important and growing client base.”
Brian Williams, the Council’s Head of Corporate Finance adds: “Northern Trust’s excellent reputation in the market was a key factor in their appointment and the Council is already enjoying the benefits of sound working relationships with Company personnel. The complex transition programme was effected with minimal disruption thanks to their expertise and professionalism. The Company’s Passport System is a particularly impressive and powerful reporting tool which meets our current needs and should provide the flexibility for future developments.”