Rothesay Life has appointed Northern Trust to provide middle office services for a portfolio of approximately £20 billion in assets under management.
Northern Trust offers an operating model to support various asset classes and investment strategies. It also allows for flexibility in data management and reporting.
According to Wilson Leech, head of Northern Trust in Europe, the Middle East and Africa, this flexibility, plus the ability to track securities portfolios in real time “provides valuable support in meeting the complex requirements imposed on the industry by Solvency II, as well as broader governance, supervision and regulatory disclosure”.
Jonathan Sarkar, COO for Rothesay Life, said: “We appointed Northern Trust based on their understanding of our investment philosophy and ability to meet our business needs.”
He added: “Their ability to support our general ledger and treasury management requirements were among key reasons for their appointment.”
