GC Legend and recent recipient of the Lifetime Achievement Award, Penny Biggs, announced her retirement from Northern Trust as she moves onto pastures new.
The head of client services and head of Sydney office at Northern Trust takes on the role of chair for the Australian custody group.
AUC/A mainly jumped in response to the recovery of global markets, however all three trust banks reported net new business wins and client growth.
Appointment expands role of strategic asset servicing support to institutional investors across region for industry veteran.
Fundsmith awarded Northern Trust a mandate to provide services for two newly launched US funds, while also transferring its Luxembourg-based funds to the bank's custody platform.
Northern Trust has undertaken a number of ambitious digitisation efforts through partnerships and internal projects to transform its asset servicing business.
The new client wins signify a growing acceptance among asset managers to use custodians for a range of front-office services.
A bounce in market valuations on the back of improved market returns and ongoing client confidence helped fuel the increase in AuC in Australia.
The enhancement provides more granular insights into the factors that drive performance for clients with Middle East mandates.
Under the partnership, Standard Bank’s clients will gain access to Northern Trust’s full suite of transition management services.