LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) has been appointed by Scottish Borders Council to provide global custody, accounting, performance measurement, cash management and foreign exchange services for its GB£550 million (approximately 700US$) in pension fund assets.
This is the 12th appointment for Northern Trust under the Local Government Pension Schemes (LGPS) National Framework Agreement (NFA), underscoring its track record in meeting the unique needs of its pension clients and reinforcing its leadership position amongst the LGPS.
“Northern Trust demonstrated its ability to provide solutions tailored to our specific needs, for example meeting our future accounting requirements,” said Councillor Bill White, Chair of Pension Fund Committee, Scottish Borders Council. “Combined with their leading expertise and experience across the LGPS, this was a key factor in their appointment.”
“At Northern Trust, we are absolutely focused on supporting local government pension schemes,” said Penelope Biggs, head of the Institutional Group at Northern Trust. “We worked closely with Scottish Borders Council to ensure we delivered a customised solution that meets their evolving needs and helps drive operational and financial efficiencies for the fund.”
Northern Trust has an ongoing commitment to all LGPS. Its Institutional Investor group currently supports 35 percent of the top 100 UK pension schemes, ranging from GB£450mn to GB£16bn in assets, including eight of the eleven Scottish LGPS*. Its dedicated programme of educational workshops, and thought leadership is central to supporting its LGPS clients as they work through the latest developments impacting the industry.
*Pension Funds and their Advisers 2016 book and Northern Trust data
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 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2016, Northern Trust had assets under custody of US$6.7 trillion, and assets under management of US$942 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.
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