London
10 March 2017
Reporter: Stephanie Palmer
£550 million mandate for Northern Trust
Northern Trust has been appointed to provide global custody and other services for £550 million in pension fund assets for the Scottish Borders Council.

This is Northern Trust’s twelfth appointment under the Local Government Pension Schemes (LGPS) National Framework Agreement.

Along with global custody services, Northern Trust will provide accounting, accounting, performance management, cash management and foreign exchange services.

Bill White, chair of the pension fund committee at the Scottish Borders Council, said: “Northern Trust demonstrated its ability to provide solutions tailored to our specific needs, for example meeting our future accounting requirements.”

He added: “Combined with their leading expertise and experience across the LGPS, this was a key factor in their appointment.”

Penelope Biggs, head of the institutional group at Northern Trust, said: “We worked closely with Scottish Borders Council to ensure we delivered a customised solution that meets their evolving needs and helps drive operational and financial efficiencies for the fund.”

According to Northern Trust, its institutional investor group currently supports 35 percent of the top 100 UK pension schemes, and eight of Scotland’s 11 LGPS.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Custody not a commodity
28 June 2017 | Warsaw | Reporter: Stephanie Palmer
Viewing custody and clearing as a commoditised industry could be putting pressure on pricing and threatening the industry, according to speakers at The Network Forum
BNY Mellon and Australian financial service provider One Investment Group are joining forces to offer global custody services to Australian fund managers, trustees and responsible entities
70 percent say cyber crime will lead to financial crisis
28 June 2017 | Warsaw | Reporter: Stephanie Palmer
The next financial crisis is ‘highly likely’ to be caused by cyber crime, and the only way to manage this is for the industry to come together, according to a panel session at The Network Forum in Warsaw
J.P. Morgan recruits new head of global custody
28 June 2017 | London | Reporter: Mark Dugdale
Hughes has joined the bank from Deutsche Bank, where he was head of strategic execution for global securities services
R3 completes prototype for ECP issuance
27 June 2017 | London | Reporter: Stephanie Palmer
R3 and four of its member banks have collaborated to build a solution for issuing Euro Commercial Paper on a distributed ledger technology platform
€50 billion mandate win for Caceis
27 June 2017 | Rome | Reporter: Stephanie Palmer
Caceis has been selected to provide custody, depository, fund administration and transfer agency services for Amundi SGR, the Italian subsidiary of the Amundi Group
EFAMA elects Nott as new president
26 June 2017 | London | Reporter: Stephanie Palmer
The European Fund and Asset Management Association has elected William Nott of M&G Securities to serve a two-year terms as president
More news