Northern Trust has migrated the non-portfolio management related investment operations of Vontobel Asset Management, Inc. to Northern Trust’s investment operations outsourcing platform.
Vontobel Asset Management is the New York-based investment management subsidiary of Switzerland’s Vontobel Holding, AG.
“Outsourcing these middle-office functions to the Northern Trust platform was a strategic decision to respond to the rapidly expanding operational needs resulting from our firm’s strong growth of assets under management,” says Henry Schlegel, President and Chief Executive Officer of Vontobel Asset Management, Inc.
Wilson Leech, head of Northern Trust’s Global Fund Services adds: “Vontobel recognised that time spent focusing on enhancing their infrastructure would take away from working with prospects and clients at the activities they do best managing assets.”