Northern Trust has announced that it has been named global custodian for the Pension Boards United Church of Christ. Northern Trust will provide custody, treasury management, benefit payment, and investment, risk and analytical services to the $2.4 billion pension plan.
Northern Trust services nearly half of the top 200 U.S. pension plans and provides custody and related pension services for many large, religious-based organizations, said Jon Dunham, head of North American institutional sales for Northern Trust. Our strength and stability, along with our experience in serving nonprofits, will help to form a successful, long-term relationship with Pension Boards United Church of Christ.
Northern Trust demonstrated an understanding of our needs as a Church plan and showed creativity, responsiveness and energy in accelerating the Pension Boards’ knowledge of their platform and service capabilities, said Michael Downs, President and Chief Executive Officer of Pension Boards United Church of Christ. Their people, business culture and single, global technology architecture were major factors in our decision.