Northern Trust to Provide Custody Services for City of Tallahassee

Northern Trust will serve as global custodian for the City of Tallahassee, managing its $2.1 billion worth of assets.

It will oversee assets associated with the treasury portfolios and the city’s pension, in addition to other post-employment benefits.

Northern Trust will also provide performance reporting and securities lending services.

“The Selection Committee was impressed with the depth and knowledge of Northern Trust’s staff and the technological capabilities of its financial products,” says Kent Olson, deputy treasurer-clerk for the City of Tallahassee.

“Tallahassee will benefit from our global operating model and technology-enabled client reporting, allowing convenient and efficient access to pertinent data,” says Marc Cosentino, head of Northern Trust client services for public funds.