LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today announced it has been appointed by Guildford Borough Council in the United Kingdom (UK), to provide its treasury team with treasury management services that include Integrated Trading Solutions alongside global custody and cash management.
These services support Guildford Borough Council’s requirements for greater trading efficiencies, as well as for asset safety and cash management across its investment programme. Guildford’s team will also use Northern Trust’s post-trade analytics and investment reporting, in alignment with the Borough’s governance framework and focus on delivering value for money.
Mark Austin, Head of Northern Trust’s UK Institutional Investor Group, said: “Northern Trust understands that UK local government treasury teams face distinctive pressures. These include the need to generate returns while remaining within tightly-prescribed risk frameworks. Our 23 years of working with local authorities – coupled with our global asset servicing and capital markets capabilities – means we are well-placed to support them in their mission.”
Councillor Joss Bigmore, Lead Councillor for Finance, Asset Management and Customer Service, said: “We are delighted to have Northern Trust on board to work with us. They will provide additional services to the Council to help us to continue to diversify our investment portfolio and manage our treasury management activities.”
Guy Gibson, Global Head of Institutional Brokerage at Northern Trust Capital Markets, also said: “We are delighted to support Guildford Borough Council’s focus on achieving best execution in its trading activities through our Integrated Trading Solutions. By integrating front, middle and back office brokerage functions together, our model enables clients such as Guildford to gain efficiencies around trading, execution and risk management, while providing transparency over these activities – supporting their oversight and governance frameworks.”
Northern Trust is an experienced, long-term provider of asset servicing solutions to UK local authorities. Its dedicated public sector service team works to fulfil clients’ asset servicing requirements, from global custody through to delivering competitive pricing for trading activities.
Northern Trust Capital Markets is comprised of a number of Northern Trust entities that provide trading and execution services on behalf of institutional clients, including foreign exchange, institutional brokerage, securities lending and transition management services. Institutional Brokerage services are provided by Northern Trust Securities LLP (‘NTS LLP’) in EMEA and APAC and Northern Trust Securities, Inc. (‘NTSI’) in the United States.
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 a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2019, Northern Trust had assets under custody/administration of US$10.9 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 http://www.northerntrust.com/disclosures.