Northern Trust Secures Platinum Asset Management Asset Servicing Business

Northern Trust to Provide ‘Front-to-Back' Asset Servicing Solutions for AU$11 Billion Fund

SYDNEY--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today that it has been appointed by Sydney-based Platinum Asset Management to provide comprehensive asset servicing solutions across their Australian funds.

Platinum Asset Management, founded in 1994, focuses on global equities and has approximately AU$11billion in total funds under management.

Under the terms of the new mandate, Northern Trust will provide custody, fund administration, regulatory reporting, investment operations outsourcing (IOO), ETF administration and collateral management.

“As Platinum sought a more comprehensive and scalable solution, we recognized our ‘front-to-back’ approach made us uniquely qualified to meet their needs,” said Leon Stavrou, Country Head, Australia, Northern Trust. “Our client-centric approach and holistic product set positions us well to help Platinum as they focus on increasing operational efficiencies. We look forward to the opportunity to partner with them as they grow into the future.”

“When we decided to switch to a new asset servicing provider, many factors came into play,” said Andrew Stannard, Finance Director, Platinum Asset Management. “Northern Trust's consultative approach stood out from the start. We also felt a strong cultural fit between our organisations, and we are excited to embark on this new journey with Northern Trust.”

Northern Trust provides a complete set of 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 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2024, Northern Trust had assets under custody/administration of US$17.4 trillion, and assets under management of US$1.6 trillion. For more than 135 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 X (formerly 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.

Platinum Asset Management

Platinum Investment Management Limited, trading as Platinum Asset Management, is an Australian-based investment manager founded in 1994 that specialises in international equities, managing AU$11bn (as of 30 November 2024). The investment team uses a thematic stock-picking approach with the objective of achieving strong absolute returns over the long term. Platinum is ultimately owned by Platinum Asset Management Limited (ABN 13 050 064 287), a company listed on the ASX (ASX ticker PTM).