Brightwell Reappoints Northern Trust for Investment Operations Outsourcing Services

Renewal Extends Long-Term Relationship with UK Defined Benefit Pension Scheme Manager

LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today announces it has been reappointed by United Kingdom (UK) defined benefit (DB) pension scheme manager Brightwell as its provider of investment operations outsourcing services.

Brightwell, formerly known as BT Pension Scheme Management, is the primary service provider to the BT Pension Scheme (BTPS). This is a DB pension scheme for employees, former employees and dependents of BT Group plc and some of its associated companies. BTPS is one of the 10 largest pension schemes in the UK with £46.9 billion in assets under management (as of 30 June 2022, source: BTPS report and accounts).

Brightwell has also this year begun offering its capabilities across member services, advisory and funding and fiduciary services to other like-minded DB schemes alongside BTPS. The first agreement of this type was its recently announced fiduciary management deal with the £1 billion DB section of the EE Pension Scheme.

Peter James, chief investment administration officer at Brightwell, said: “As our longstanding provider of asset servicing solutions, Northern Trust’s capabilities support our focus on delivering sustainable funding, investment solutions and member services to UK pension scheme clients to help them reach their endgame objectives. Reappointing Northern Trust reflects its track record of service delivery for us, and our confidence in its technological capacity to support our strategic priorities over the long term.”

Laurence Everitt, head of Global Fund Services, UK, at Northern Trust, said: “Northern Trust’s services provide sophisticated investment managers with the infrastructure to support diverse and complex investments – delivering process efficiencies and meeting their continuing demands for data, transparency and insight. Our reappointment by Brightwell as its long-term provider also shows the strategic and cultural alignment between both organisations, and we are excited to support our client as it continues to develop its business.”

Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.

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 25 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, 2023, Northern Trust had assets under custody/administration of US$14.2 trillion, and assets under management of US$1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

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/terms-and-conditions.

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