Northern Trust announced today that it has been reappointed as global custodian of Middlesbrough Council’s £1 billion Teesside Pension Fund.
“We were delighted to appoint Northern Trust as global custodian for a further term, following a competitive tender process,” Fred Green, Head of Investments of the Teesside Pension Fund, said. “The appointment was made on the basis of competitive pricing and quality of service. Northern Trust’s innovative approach to service delivery was a major factor in our decision. As an internally-managed fund, we understand that the smooth-running of the custodian relationship is of particular importance. On a personal level I have enjoyed working with Northern Trust since they were first appointed in 2001.”
“We are very pleased to have retained Middlesbrough Council Teesside Pension Fund as our client,” Jemma Broadgate, Vice President UK Business Development, said. “This is a great testament to the strong and successful relationship we have built together over the years. The team at Northern Trust is looking forward to working together with Middlesbrough Council – as we have done in the past – to ensure our service delivery continues to evolve and bring greater benefits and efficiency.”