U.K. County Council Appoints Northern Trust for Global Custody and Securities Lending

Devon County Council has appointed Northern Trust to provide global custody and securities lending for the fund’s GB£3 billion in pension fund assets. The appointment was made using the National LGPS Global Custodian Framework.
By Janet Du Chenne(59204)
Devon County Council has appointed Northern Trust to provide global custody and securities lending for the fund’s £3 billion in pension fund assets. The appointment was made using the National LGPS Global Custodian Framework.

“Northern Trust’s ability to provide high-quality tailored solutions to meet our specific requirements, combined with their leading expertise across the local government pension scheme (LGPS) sector, were key factors in their appointment,” says Mark Gayler, assistant county treasurer at Devon County Council. “In addition, Northern Trust’s strong securities lending capabilities supported our objectives to maximize our investment portfolio.”

“We are delighted to support Devon Country Council,” says Penelope Biggs, head of Institutional Investor Group for Europe, Middle East and Africa, at Northern Trust. “Through our Institutional Governance Services group and dedicated LGPS team we continue to look for innovative ways to invest in the depth and sophistication of services we can offer pension funds faced with increasingly complex investment and administration challenges, and in an evolving regulatory landscape.”

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