Northern Trust has been selected to provide global custody and master trustee services for BJC HealthCares $4.2 billion in assets, including operating, pension and foundation funds. The nonprofit healthcare organization is the largest employer in St. Louis, Mo.
Northern Trust already provides credit, asset management and transition management services to BJC HealthCare.
BJC Healthcare is a significant client for our nonprofit segment,” says Steven L. Fradkin, president of Corporate & Institutional Services at Northern Trust. “We look forward to a long-term relationship with BJC Healthcare, supporting its complex needs as an institution that provides first-class health care supported by prudent financial stewardship.
BJC HealthCare serves urban, suburban and rural communities, primarily in the greater St. Louis, southern Illinois and mid-Missouri regions.
With 13 hospitals, multiple community health locations and nearly 25,000 employees, BJC HealthCare serves a critical purpose to the St. Louis area and we are honored to be selected as its financial services provider, says Thomas R. Collins, president of Northern Trust Missouri.
In December Northern Trust won a custody mandate for $1.8 billion in operating assets of St. Joseph Health System.
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