Carpenters Trusts of Western Washington Names Northern Trust as Asset Servicing Partner

CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) has been selected by Carpenters Trusts of Western Washington, a Seattle-based self-administered Taft-Hartley trust, to provide global custody, securities lending, foreign exchange and related services for US$2.2 billion in trust assets.

“Carpenters Trusts chose Northern Trust because of their demonstrated commitment to client service and their leading technology capabilities,” said Randy Parker, Trust Administrator of Carpenters. “We view all of our service providers as partners, so it was important that our Northern Trust team is committed to a long-term relationship. Northern Trust also offers a superior reporting package that is both concise and highly detailed, supported by the team’s expertise.”

“We are excited to cultivate a strong partnership with Carpenters Trusts of Western Washington, and look forward to providing them with the tools and technology to help drive efficiency, as well as streamlined accounting data and reporting,” said Jeffrey Porta, Taft-Hartley Practice Executive at Northern Trust.

Northern Trust’s Public Funds and Taft-Hartley segment offers a full suite of asset servicing solutions to almost 200 clients with US$900 billion in assets under custody. The team services 30% of the top 100 national public clients, as well as 50% of top Taft-Hartley Plans. For decades, Northern Trust has helped pension funds manage risk, achieve investment objectives and optimize portfolio efficiency.

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 March 31, 2020, Northern Trust had assets under custody/administration of US $10.9 trillion, and assets under management of US $1.1 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.