31 August 2017
Reporter: Jenna Lomax

Reliance Trust Company chooses Northern Trust for investment services

Northern Trust has been chosen by Reliance Trust Company to provide back-office services including custody, fund accounting, and transfer agency for a collective investment trust (CIT) sub-advised by Driehaus Capital Management.

Dan Houlihan, head of global fund services for North America at Northern Trust, said: “We are excited to be working closely with both Reliance Trust and Driehaus Capital Management to support this CIT fund for qualified retirement plans.”

He added: “Our strong back-office service, expertise and technology, combined with Reliance Trust’s experience in The Employee Retirement Income Security Act of 1974, bring together two parties with exceptional financial strength on behalf of asset managers like Driehaus Capital Management.”

Tom Seftenberg, managing director at Driehaus Capital Management, said the mandate was based on Northern Trust and Reliance Trust’s understanding of the business, and their “innovation and proactive engagement”,

He commented: “Northern Trust’s culture of client service excellence and Reliance Trust’s commitment to oversight dovetail nicely with our investment responsibilities and distribution efforts.”

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
OFI AM and SETL become shareholders of IZNES
23 February 2018 | Paris | Reporter: Jenna Lomax
OFI AM and SETL have been joined as shareholders of IZNES by five asset management companies
Klesia Finances goes live with NeoXam’s Density solution
23 February 2018 | Paris | Reporter: Jenna Lomax
According to Klesia, Density will assist it in facing the current French and European regulatory landscape
EBA Clearing’s RT1 hits 500,000-transaction-mark
23 February 2018 | London | Reporter: Jenna Lomax
The RT1 system passed the transaction milestone on 19 February
Liz Daniels joins FCA
23 February 2018 | London | Reporter: Becky Butcher
The Financial Conduct Authority has appointed Liz Daniels as policy advisor
Gen II exceeds $175 billion in assets under administration
23 February 2018 | New York | Reporter: Becky Butcher
Gen II Fund Services has revealed that its assets under administration have exceeded $175 billion
SANNE hires Hannah Correll Jaeger
22 February 2018 | New York | Reporter: Becky Butcher
SANNE has appointed Hannah Correll Jaeger as head of client relationship management for the Americas to support the company’s growth
Benelux trio set to strengthen collaboration on blockchain
22 February 2018 | Brussels | Reporter: Becky Butcher
B-Hive, the Luxembourg House of Financial Technology and the Dutch Blockchain Coalition have signed a memorandum of understanding to strengthen further collaboration in blockchain within the Benelux region
More news