Northern Trust says Catholic Health East has chosen the bank as global custodian to $1.2 billion in operating and pension funds. In addition, Northern will provide risk and performance and securities lending services. Northern claims to be custodian to a third of the top fifty health care organizations in the US.
“Northern Trust was selected because they have strong web-based capabilities and are able to meet our complex plan accounting needs from both a financial and performance reporting perspective,” explains Paul Klinck, Vice President, Treasury Services of Catholic Health East. “In addition, we developed a good relationship with the Northern team and have confidence in their ability to service our relationship.”
“We are very pleased to have been selected by Catholic Health East to meet its custody, performance and securities lending needs,” says Mike Delaney, Vice President of Foundation, Endowment and Healthcare sales at Northern Trust. “Northern Trust is very committed to the health care market, and we are proud to count Catholic Health East as one of our valued clients.”