Northern Trust wins global custody mandate for $7.7 billion trust funds
The deal marks a significant milestone for Northern Trust’s aim to grow its collective investment trust fund services business in the US.
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.
Eileen Murray, co-CEO of Bridgewater Associates, helped launch the industry’s first dual-outsourcing model using two custodians. Joe Parsons speaks to Murray about how the world’s largest hedge fund has utilised this model.
While providers are conscious existing systems are in need of reform, there is trepidation about developing technology which could be disrupted before it even goes live.
In the newly-created role, he will be responsible for all front-, middle-, and back-office services to asset owners and asset managers.
Middle-office outsourcing has been highlighted as one of the most preferred methods to cut costs at asset management firms
ExodusPoint Capital Management was described as the largest start-up fund of all time when it went live at the start of summer.