Northern Trust Appointed as Global Custodian by International Finance Facility for Education (IFFEd)

New Collaboration to Support IFFEd as it Increases its Scale and Impact

BASEL, Switzerland--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today announced that it has been appointed by the International Finance Facility for Education (IFFEd) to provide global custody services.

IFFEd, based in Switzerland, is an innovative financing engine for global education. Endorsed by the G20 in 2023, it currently has a triple A credit rating, carries a zero per cent administration fee, and is designed to accelerate public-private partnership.

Karsten Illy, country head, Switzerland, Northern Trust said: “We are honored to support the IFFEd with our global custody services and look forward to a long relationship together. As a long-standing leader in servicing endowments and foundations, we bring a deep understanding of the unique needs of mission-driven investors. Our robust infrastructure, deep understanding of cross-border regulatory requirements, and ability to seamlessly administer portfolios across global markets enable us to help institutions like the IFFEd focus on their long-term impact while we focus on safeguarding and efficiently administering their assets.”

IFFEd CEO, Karthik Krishnan, said: “In a world of shrinking aid budgets, IFFEd is a way to do more with less. Backed by its capital contributions and donor grants, IFFEd’s innovative finance model turns one dollar of donor contributions into seven dollars of affordable finance for lower-middle-income countries to invest in education and skills. The goal is to improve learning and earning outcomes and put people and countries on a path to prosperity.”

“We are delighted to form this relationship with Northern Trust, who are a world leader in asset servicing and custody banking. Their experience, expertise and network will be a huge benefit to IFFEd as we increase our scale and impact in the years ahead.

“With the World Bank as our asset manager and Northern Trust as our custodian, we have an outstanding financial foundation that will allow IFFEd to accelerate.”

For many decades, Northern Trust has been dedicated to serving the needs of global asset owners. The goal within the asset owner segment is to empower the missions of its clients, helping them to maximize investment returns so that they may serve their constituents, their communities, and the world.

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 June 30, 2025, Northern Trust had assets under custody/administration of US$18.1 trillion, and assets under management of US$1.7 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 Instagram @northerntrustcompany or Northern Trust 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.