CHICAGO--(BUSINESS WIRE)--Northern Trust Hedge Fund Services (NTHFS) today announced an agreement with Donnelley Financial Solutions (NYSE: DFIN), a leading global provider of risk and compliance solutions, to utilize ArcReporting to automate the creation, review and output of financial statements for clients, including alternative investment managers and large institutional investors.
Donnelley Financial Solutions’ ArcReporting is a software solution designed to manage the increasing challenges and mitigate the risks associated with producing financial reports. Under the agreement, ArcReporting provides a streamlined approach to data aggregation and processing of year-end financial statements for NTHFS clients. The solution also includes enhanced systematic controls such as consistency validations across multiple sets of financial statements, audit trails for changes and version controls.
“Northern Trust continually looks for ways to enhance our processes and add value for our clients,” said Jeff Boyd, Head of Northern Trust Hedge Fund Services, North America. “With Donnelley Financial Solutions’ ArcReporting, we are able to automate financial reporting for our clients. This provides us a more controlled process and enables our clients to further focus their attention on content specific aspects of financial reporting.”
“We are very excited to partner with Northern Trust Hedge Fund Services to automate their shareholder report creation process,” said Eric Johnson, president of Global Investment Markets at Donnelley Financial Solutions. “ArcReporting promotes consistency through content sharing and automation, and gives customers confidence their calculations and content are accurate and uniform. Our solution helps create a more efficient process allowing Northern Trust to produce financial statements.”
Northern Trust Hedge Fund Services is a leading provider of administration and middle office services for alternative fund managers and institutional investors with complex portfolios. Its full-service, front-to-back operating model can support any asset or strategy with unparalleled flexibility in data management and reporting. NTHFS has approximately $370 billion in assets under administration, as of March 31, 2018.
About Donnelley Financial Solutions
With the right solutions in moments that matter, Donnelley Financial Solutions (NYSE: DFIN) delivers risk and compliance solutions that fuse deep industry experience, unparalleled service, and elegant technologies to provide our clients with insights that power their decisions and shape global markets. The company has 3,400 employees in 61 locations across 18 countries, serving thousands of clients globally. For more information about Donnelley Financial Solutions, visit www.dfsco.com or follow us on Twitter @DonnelleyFin or on LinkedIn.
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 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2018, Northern Trust had assets under custody/administration of US$10.8 trillion, and assets under management of US$1.2 trillion. 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 LaSalle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures.