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.
GC Legend and industry securities lending veteran leaves key role at HSBC after five years.
GC Legend Lee Waite, who previously led the division, was appointed chief executive officer of Citi’s Japanese securities and banking units in June.
UK FTS is looking to improve the way mutual funds are traded and settled in an attempt to reduce cost and risk.