Northern Trust Wins Canadian Custody Mandate

Northern Trust has won a global custody mandate from the IWA Forest Industry Pension Plan, replacing RBC Investor Services.

In addition to providing custody, Northern Trust will also provide investment accounting, securities lending, compliance monitoring and performance services to the plan, which serves nearly 70,000 members of Canada’s United Steelworkers (formerly I.W.A. Canada) and forest industry employers. The plan is valued at 3.1 billion Canadian dollars.

“Superior technology and expertise in alternative assets were key reasons for our selection of Northern Trust,” says Colleen Troelstrup, director, investments for the IWA Forest Industry Pension Plan. “Improved risk and performance analytics as well as user friendly presentation will enable enhanced reporting and more efficient internal processes. In addition, Northern Trust supports our expanding allocation to alternative investments with experienced staff and market-leading tools to monitor and manage a range of asset classes.”