Northern Trust wins global custody mandate for Dubai-based asset manager

Northern Trust will also support Sancta Capital’s trading programme through its outsourced agency-only brokerage service.

By Joe Parsons

Northern Trust has been appointed by Dubai-based asset manager Sancta Capital Advisors to provide brokerage and global custody services, as the bank continues to enhance its capabilities for Middle Eastern firms.

Sancta Capital is part of Sancta Capital Group, an alternative investment manager founded in 2013 with a focus on distressed and deep value investing across the Middle East and Africa.

Through the mandate, Northern Trust will support Sancta Capital’s trading programme through its outsourced agency-only brokerage service.

Northern Trust will also provide global custody services for Sancta Capital’s local and global mandates, as well as reporting and administration services for its assets.

“We are excited to work with Northern Trust, whose brokerage execution and custody offering will provide us with the operational efficiency, market expertise and the innovative solutions required to achieve our long-term investment goals,” said Ahmad Alanani, co-founder and chief executive officer of Sancta Capital.

The mandate bolsters Northern Trust’s business in the Middle East, as it continues to roll out its outsourced trading and brokerage service to emerging fund managers in the EMEA region. Last year, it was selected by Introspect Capital, a boutique Middle East-based asset manager, to provide global custody and brokerage services.  

“Through market cycles our local presence and global capabilities provide clients like Sancta Capital with access to scale and sophisticated asset servicing solutions – assisting their growth, while helping them adapt to change and position their investment operations for the future,” added Michael Slater, head of Middle East and Africa at Northern Trust.