Northern Trust has been retained to provide trust accounting and custodial services by Commerce Bank & Trust, an independent banking company headquartered in Topeka, Kansas. The bank’s Investment Management Group has more than a thousand clients with approximately $825 million in trust and custody assets.
“We selected Northern Trust because of its outstanding combination of products, technology, and service,” said Kirk L. Johnson, Senior Vice President and Manager of the Investment Management Group, Commerce Bank and Trust. “They were able to quickly and efficiently convert over two year’s worth of transaction history onto their system from our prior vendor, and the enhancement in capabilities is tremendous for our clients.”
Commerce positioned itself to take advantage of Northern Trust’s complete range of services, including the Trust/Rite(r) trust accounting system and depository custody platform, said David Batrich, Vice President, Northern Trust. “By bundling our services in a total relationship approach, we are able to offer Commerce Bank the greatest level of efficiencies at the lowest possible cost.”