Northern Trust announced today that Missouri Highway & Transportation Employees’ & Highway Patrol Retirement System – which is based in Jefferson City, Missouri – had selected Northern Trust to provide global custody and investment management services for their $1.3 billion defined benefit pension plan.
The mandate includes a $240 million S&P 500 Index investment management assignment. Northern will also provide securities lending, risk and performance, and cash management services.
“Northern Trust is extremely pleased that Missouri Highway & Transportation Employees’ & Highway Patrol Retirement System chose us to serve their custody and investment needs,” says Lisa Rockenbach, Vice President of public fund sales at Northern Trust. “We know we will provide them with the highest level of servicing and believe we’ve created an excellent working environment through a responsive account team, a comprehensive array of products and services, and a robust, easy-to-use online reporting system.”
Missouri Highway & Transportation Employees’ & Highway Patrol Retirement System is a single employer pension fund that services employees for two government agencies: Employees of the Missouri Department of Transportation (MoDOT) and employees of the Missouri State Highway Patrol.