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.
Tag: Outsourced trading
COVID-19 crisis is accelerating outsourcing among asset managers who face a myriad of additional challenges such as competition, fee pressure and regulation.
Cowen has hired a former prime services executive from Morgan Stanley, JP Morgan and Cantor Fitzgerald to boost its New York sales team.
The survey of 300 global asset managers found 85% have outsourced or are interested in outsourcing their trading desk.
Northern Trust will also support Sancta Capital’s trading programme through its outsourced agency-only brokerage service.
Chicago-headquartered custodian has created a service to cover all points of the investment lifecycle with landmark BlackRock partnership becoming a key component of the plan.