The Chicago-based custodian provides asset servicing solutions to over 260 UK pension funds with collectively more than £600 billion in AUC.
Tag: global custody
Can custody be white labelled and adopted by local providers or will custodians with global sub-custody networks dominate?
Relationship represents over $10 billion in assets and comes seven years after BNP Paribas Securities Services embarked on its US growth strategy.
The deal is its largest in the Latin America region for BNP Paribas after onboarding Protección’s foreign portfolio of $7.5 billion in assets.
BNP Paribas Securities Services stated it has significantly grown its presence in the Netherlands in recent years with added pension fund services.
The mandate marks the latest in a series of partnerships for Northern Trust’s brokering service, which has recently signed a flurry of emerging fund managers.
The Danish pension fund giant put out an RFP to custodians in late 2018 with its current contract due to expire later this year.
Northern Trust will provide fund administration, fund accounting, transfer agency and global custody to the Crossmark mutual funds.
New research from industry analytics provider Coalition showed revenues from global securities services providers collectively reached $37.2 billion in 2018.
Northern Trust underwent an organisational restructure within its asset servicing leadership at the end of last year.