LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) grew its assets under custody from UK pension fund clients by more than US$72 billion in 2019 – underscoring its strategic commitment to the United Kingdom’s (UK’s) retirement industry.
The growth in 2019 was driven by both new client wins and asset inflows across 20 marquee clients – including both corporate and local government defined benefit (DB) pension schemes and defined contribution (DC) master trusts.
Mark Austin, head of United Kingdom, Institutional Investor Group at Northern Trust, comments: “Whatever the path chosen to achieve their investment objectives, Northern Trust is committed to supporting pension funds on that journey. As today’s investment environment drives change and complexity, our solutions – from outsourced financial accounting and alternatives administration to middle office services and outsourced trading – support UK pension teams with their day-to-day investment activities, governance and risk management obligations.”
Northern Trust’s Institutional Investor Group provides services to more than 270 UK pension funds with collectively more than US$851 billion in assets under custody. Clients serviced include DC master trusts, DB corporate schemes and funds of the UK Local Government Pension Scheme, with assets varying in size from US$20 million to US$60 billion.
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 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2019, Northern Trust had assets under custody/administration of US $12.1 trillion, and assets under management of US $1.2 trillion. For more than 130 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/united-states/terms-and-conditions.
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