CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today it has partnered with Lumint Corporation, an innovative provider of currency management services, to enhance its suite of foreign exchange (FX) solutions for asset managers and asset owners globally.
The partnership with Lumint strengthens Northern Trust’s platform for currency hedging, including portfolio overlay, share class hedging and look-through hedging. It also supports further innovations in hedging program management and analytics to meet the evolving needs of global investors.
“Northern Trust is committed to delivering best-in-class foreign exchange services and we are excited to announce this strategic partnership with Lumint for currency hedging. This enables us to offer a differentiated and innovative solution to our clients who are looking to delegate their hedging needs and benefit from our expertise, coupled with Lumint’s powerful tools and technology,” said John Turney, Global Head of Foreign Exchange at Northern Trust Capital Markets.
“Lumint is delighted to work with Northern Trust to support its clients in managing and hedging currency risk,” said Alex Dunegan, Chief Executive Officer of Lumint. “Through our collaboration with Northern Trust, clients including asset managers and asset owners will benefit from process excellence, superior technology, transparency, analytics and sophisticated reporting on their currency overlay and FX programs.”
Northern Trust Global Foreign Exchange, part of Northern Trust Capital Markets, provides a range of liquidity, trading, transaction processing and outsourced FX solutions for institutional investors. Northern Trust Capital Markets provides brokerage, securities lending and transition management services, in addition to FX, and is a division of Corporate & Institutional Services, which provides asset servicing, fund administration and middle office solutions to institutional asset managers and asset owners around the globe.
Based in Boston, Lumint is a privately held corporation founded in 2014 to provide comprehensive currency management services to institutional investors by delivering process excellence, scalability and real time performance analytics through a highly automated proprietary platform.
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 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 https://www.northerntrust.com/disclosures.