Northern Trust makes investment in EDS to advance Whole Office strategy
The deal will integrate EDS decision support tools with Northern Trust’s core technology platform, providing it with new data science capabilities.
The deal will integrate EDS decision support tools with Northern Trust’s core technology platform, providing it with new data science capabilities.
The mandate follows the launch of its new Oslo-based office, its second in the Nordic region, where it will offer onshore depositary services to buy-side firms.
Deal builds on the custodian’s Whole Office proposition which it launched in 2020 following a similar agreement with BlackRock.
The Nordics has become a key region for custodians to expand their capabilities, as many have established new on-the-ground presence.
The new ‘Investor Stewardship Service’ will allow companies from across the world to receive proxy votes from the AMX DWS pooled funds.
BNY Mellon, Northern Trust and State Street are to set to make a swathe of job cuts in 2021, reducing mostly middle-management and junior roles.
Northern Trust will be responsible for the $12bn asset manager's equity and fixed income trading, as well as its middle-office trade settlement support.
Northern Trust has made several enhancements to its global middle-office platform in response to rising demands from buy-side clients.
Recent studies have shown buy-side firms, particularly hedge funds, are expanding their outsourcing options to include middle-office and certain trading functions
The domino effect of institutional crypto custody is in full motion as BBVA becomes the latest custodian to launch services.