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Northern Trust renews UK gov mandate
05 December 2013
The custodian bank will provide additional services to the Strathclyde government pension scheme
Northern Trust has renewed its mandate with the £13.7bn
($22.4bn) Strathclyde government pension scheme.
The custodian bank will continue to provide global custody,
securities lending, cash management and foreign exchange
services. It will also provide the scheme with tailored
investment risk and performance services for the first
Richard McIndoe, head of pensions at Strathclyde, said:
"Northern Trust understands our specific requirements and
through their range of high-quality tailored solutions
continues to demonstrate their commitment to the local
government pension sector."
"We understand local government pension schemes face unique
challenges and being part of the Framework Agreement, under
which local government pension schemes can benefit from
pre-agreed tariffs and services underlines our continued
commitment to the sector," said Douglas Gee, head of
institutional sales at Northern Trust.
"Through our Retirement Solutions Practice, we continue to look
for innovative ways to invest in the depth and complexity of
services we can offer pension funds."