Northern Trust has been reappointed as global custodian and asset servicing provider to The Pensions Trust, a multi-employer occupational pension schemes for the charitable, social, educational, voluntary and not-for-profit sectors in the United Kingdom.
Following an external review of services delivered since 1999, The Pensions Trust renewed Northern Trust’s mandate to provide global custody, investment accounting, unitisation, performance measurement, compliance analysis and securities lending for the GBP3.6 billion (approximately USD $7.1 billion) fund.
“We have been very pleased with Northern Trust’s client service and global technology platform, and our due diligence has confirmed this positive view,” says Richard Stroud,Chief Executive of The Pensions Trust. “Northern Trust supports the fund’s evolving investment strategies on a global basis, and its highly competent service team demonstrates a true understanding of our needs as a mutual organisation serving multiple employers and the employees, pensioners and deferred members who belong to these schemes.”
“We are happy to see our commitment to service, technology and product innovation validated by this outside review and look forward to a continued strong relationship with The PensionsTrust,” adds Ray Bloom, Head of Relationship Management for UK pension fund clients at Northern Trust.