Northern Trust has been appointed by The National Trust to provide global custody and related services to 881 million (approximately $1.4 billion) in charity assets.
We appointed Northern Trust, following a competitive tender, said Paul Maguire, assistant director of treasury & fund management at the Trust. We needed a provider who could not only support our asset servicing requirements, but one who had experience in our sector and could provide a high level of client service, supporting our changing requirements as we continue to evolve.
Northern Trust has assets under custody of $3.9 trillion.
The charities, foundations and endowments sector is a key area of focus for us and we are delighted to have been appointed by The National Trust, says Penelope Biggs, head of the Institutional Investor Group for Europe, Middle East and Africa, at Northern Trust.