17 August 2017
Reporter: Jenna Lomax

Boeing and JCP name Northern Trust as global custodian

The Boeing Company has mandated Northern Trust to act as global custodian for its €54 billion defined contribution retirement plan, while equities manager JCP Investment Partners has put the bank in charge of its range of Australian fund products.

Northern Trust will provide Boeing’s plan with global custody, valuation and unitisation of assets, as well as regulatory and performance reporting solutions, compliance monitoring, derivatives processing and third-party custom cash fund servicing.

Frederick Waddell, CEO of Northern Trust, said of the Boeing mandate: “We are pleased to be selected as a trusted provider that can support all dimensions and directions of Boeing’s investment programme.”

“Large, sophisticated retirement plans continue to choose Northern Trust for our unique combination of global scale and highly flexible accounting and reporting solutions that can adapt quickly to changing plan needs. We believe no other provider can offer the commitment to supporting each individual plan’s vision better than Northern Trust.”

Northern Trust, building upon an existing relationship with JCP, which acts as investment manager to the bank’s mutual institutional clients, will provide global custody, fund administration and associated services for its range of Australian fund products.

Nancy Day, COO of JCP, commented: “JCP is pleased to appoint Northern Trust to service our wholesale funds and recently launched retail funds. The quality and depth of Northern Trust’s service offering, with a local team that is supported by innovative data solutions and a global technology platform and operating model, were key contributors in our decision to select Northern Trust.”

“We are confident in their ability to provide the strong operational support necessary to facilitate the delivery of high quality services to our clients.”

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
Ten-year T2S saga comes to an end
19 September 2017 | Brussels | Reporter: Stephanie Palmer
The Target2-Securities pan-European harmonised settlement platform is finally fully operational, as the Spanish and Baltic markets completed their migration yesterday
SS&C on point with launch of Precision LM 3.0
19 September 2017 | Windsor | Reporter: Theo Andrew
With improvements spanning across the loan production, servicing and technology functions, the Precision LM 3.0 upgrade also includes expandable web services, helping to improve operational efficiency
Linedata and DTCC keep partnership going
19 September 2017 | London | Reporter: Jenna Lomax
The new updated programme, Extensible Markup Language allows Linedata clients to match transactions across extended asset classes, and enables trade processing on one platform
PwC promotes into leadership roles
19 September 2017 | London | Reporter: Theo Andrew
Elizabeth Stone will be responsible for working with asset and wealth management clients across audit, tax, advisory, deals and legal services across the UK
Euroclear-DTCC and Lombard Risk link collateral management programmes
18 September 2017 | London | Reporter: Jenna Lomax
Lombard Risk has partnered its Colline solution with DTCC and Euroclear's GlobalCollateral margin transit utility (MTU) programme
Sanne backed as fund administrator by Central Bank of Ireland
18 September 2017 | Dublin | Reporter: Theo Andrew
Under Section 10 of the Investment Intermediaries Act, Sanne will now be able to provide services to Irish authorised collective investment schemes and alternative investment managers
New COO joins Calastone
18 September 2017 | London | Reporter: Theo Andrew
Stephen Mohan joins from DST Systems, formerly IFDS, where he was most recently executive director of transformation and innovation
More news