To provide custody and benefit payments Northern Trust has been appointed trustee and custodian for the Halifax Regional Municipality Master Trust (HRM), which includes two pension plans with combined assets of approximately C$1 billion.
Such decision is explained by Northern Trust’s technology capabilities and focus on client service.
We are very pleased with our decision to partner with Northern Trust and feel that there is a good cultural fit, says Terri Troy, chief executive officer, HRM.
It is a highly regarded fund in the Maritimes region and we expect that this appointment, combined with Northern Trust’s reputation for unrivaled client service, will create a significant advantage as we seek to expand our presence in Canada, says Robert Baillie, president and chief executive officer of Northern Trust, Canada.
L.D.