Assets under custody and administration (AuC/A) also jumped 7% for BNY Mellon to $34.5 trillion and 12% for Northern Trust to $10.8 trillion.
Tag: Northern Trust
Margaret Law will be responsible for growing its regional client base and leading the adoption of CLS’s portfolio of products.
Private equity managers are increasingly turning to administrators and their ability to introduce new technologies to deal with mounting operational requirements.
The custodian will also look to deliver new capabilities across data aggregation, data enhancement and data analytics to support trading and execution.
The move is the latest effort by custodians to expand into the front-office; however, Northern Trust is the first to take on certain trading activities for asset managers.
The deal marks a significant milestone for Northern Trust’s aim to grow its collective investment trust fund services business in the US.
The Chicago-based custodian will provide custody and foreign exchange services to the Misaki Engagement Master Fund.
The move is likely the first personal hire by Dan Houlihan in his new role running Northern Trust’s Americas asset servicing business.
Awards evening on 29th November in New York to honour the best in fund administration, prime brokerage, custody and technology innovation.
Peter Sanchez, Northern Trust’s head of North America Alternative Investment Services, gives his view on how the custodian has dealt with being the independent verifier for Bridgewater Associates.