CHICAGO--(BUSINESS WIRE)--As asset owners face increasing pressure to manage costs, Northern Trust announced today it is collaborating with CEM Benchmarking to offer a peer group, cost-benchmarking solution, comparing cost of services with the value provided by the service. The solution will provide better insight into the true value of individual services, helping asset owners prudently assess fees that plan participants pay.
CEM is an independent provider of objective and actionable benchmarking information for large pools of capital including pension funds, endowments/foundations and sovereign wealth funds. They specialize in benchmarking cost and performance of investments and administration, making ‘apples-to-apples' comparisons and providing insights into best practices.
Through this collaboration, Northern Trust will provide advanced peer group analytics, and is building interactive reporting dashboards, making it easier for clients to benchmark investment and administrative costs. Other benefits include:
• Outsourced data scrubbing and communication
• Enhanced dashboard reporting against peer group
• More competitive peer group analysis.
“As our clients continue to face cost pressures in a low interest rate environment, Northern Trust is focused on ways to make their data more transparent and accessible,” said Pete Cherecwich, Americas head of Corporate and Institutional Services at Northern Trust. “With this solution, we are making it easier for clients to find cost efficiencies that can improve their overall performance.”
”We are particularly excited about this collaboration because it will make it easier for our clients to provide the data necessary to benchmark their costs and performance. Our clients have asked for this solution,” said Tom Scheibelhut, Managing Partner, CEM.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2016, Northern Trust had assets under custody of US$6.2 trillion, and assets under management of US$900 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.