Northern Trust grows custody assets in 2012
"We are delighted to continue to grow our footprint in the UK pensions sector," said Douglas Gee, head of business development for Northern Trust's Institutional Investor Group (IIG) for the UK and Ireland.
"All our pension fund clients are facing increasingly complex investment and administration challenges, combined with the need to support an evolving regulatory environment."
Global Investor/ISF previously reported on the Merseyside Pension Fund mandate, which brought Northern Trusts total assets under custody for UK local government pension schemes (LGPS) to in excess of $100bn and the share of local government pension scheme (by asset size) market to 43%.
"Through our Institutional Governance Services group, we continue to look for innovative ways to invest in the depth and complexity of services we can offer pension funds, and it is gratifying to see this investment being rewarded by a demand for more tailored and sophisticated asset servicing solutions by our clients," Gee added.
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