Northern Trust has been named global custodian for the University of San Diegos foundation fund. Services provided by Northern Trust will include consolidated reporting and accounting for a range of assets invested worldwide.
As global custodian for our foundation fund, Northern Trust will maximize efficiencies for the university by serving as a single point of contact for consolidated reporting, says University of San Diego executive vice president and Provost Julie Sullivan. Northern Trust also has a long history of excellent service and leadership in helping clients to comply with changing regulations and accounting rules, which can be a challenge for many institutional investors.
Laurie Neu, group head for public entities and institutions at Northern Trust, said a key focus for the University of San Diego is compliance with recently implemented accounting standards, called FAS 157, which require investors to classify securities according to guidelines and supply information on how prices are derived for the securities.
Northern Trust has developed industry-leading reporting abilities for FAS 157, which are deployed through our multi-faceted online platform, Passport, and supported by a single, global technology platform, says Neu.
The University of San Diego is a Catholic institution of higher learning chartered in 1949. The school enrolls approximately 7,800 undergraduate and graduate students.
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