Northern Trust wins two UK LGPS
07 July 2014 London
Image: Shutterstock
Northern Trust has won two contacts for global custody services of Cambridgeshire and Northamptonshire pension funds under the Local Government Pension Scheme (LGPS).
The company will provide fund accounting, securities lending and administration services for an estimated 拢4 billion in pension fund assets.
This is the second appointment for Northern Trust under the LGPS framework after getting a contract with Devon County Council and its 拢3 billion in pension fund assets.
Tolu Osekita, responsible for managing the investments for the Cambridgeshire and Northamptonshire Pension Funds, said: 鈥淣orthern Trust鈥檚 strong reporting capabilities and innovative product suite can provide us with enhanced levels of governance, oversight and transparency over our investments.鈥�
鈥淣orthern Trust鈥檚 leading position and expertise in supporting LGPS were also key factors in our decision. It was evident Northern Trust has a strategic focus on the LGPS market and their proven commitment to this segment is incredibly valuable to us.鈥�
Penelope Biggs, head of institutional investor group for Europe, Middle East and Africa at Northern Trust, said: 鈥淲e are proud to have the opportunity to support Cambridgeshire and extend our long-standing relationship with Northamptonshire.鈥�
鈥淎gainst the backdrop of an increasingly complex regulatory landscape and the focus on ensuring the highest standards of operational and financial efficiency, we understand that our LGPS clients face unique challenges. Our dedicated LGPS team, in conjunction with our Institutional Governance Services, ensures we are able to support our clients鈥� increasing requirements for enhanced investment and operational performance.鈥�
The company will provide fund accounting, securities lending and administration services for an estimated 拢4 billion in pension fund assets.
This is the second appointment for Northern Trust under the LGPS framework after getting a contract with Devon County Council and its 拢3 billion in pension fund assets.
Tolu Osekita, responsible for managing the investments for the Cambridgeshire and Northamptonshire Pension Funds, said: 鈥淣orthern Trust鈥檚 strong reporting capabilities and innovative product suite can provide us with enhanced levels of governance, oversight and transparency over our investments.鈥�
鈥淣orthern Trust鈥檚 leading position and expertise in supporting LGPS were also key factors in our decision. It was evident Northern Trust has a strategic focus on the LGPS market and their proven commitment to this segment is incredibly valuable to us.鈥�
Penelope Biggs, head of institutional investor group for Europe, Middle East and Africa at Northern Trust, said: 鈥淲e are proud to have the opportunity to support Cambridgeshire and extend our long-standing relationship with Northamptonshire.鈥�
鈥淎gainst the backdrop of an increasingly complex regulatory landscape and the focus on ensuring the highest standards of operational and financial efficiency, we understand that our LGPS clients face unique challenges. Our dedicated LGPS team, in conjunction with our Institutional Governance Services, ensures we are able to support our clients鈥� increasing requirements for enhanced investment and operational performance.鈥�
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