Northern Trust has been appointed by Hong Kong Baptist University to provide custody and accounting services.
Northern Trust will provide global custody and accounting services for its endowment.
Founded in 1956, Hong Kong Baptist University is a Hong Kong-based fully-funded public tertiary education institution.
To date, Northern Trust has an established network of 11 offices across Asia-Pacific—in Australia, China, Hong Kong, India, Japan, Malaysia, Philippines, Singapore and South Korea.
Michael Wu, country executive for Greater China at Northern Trust, said: “The university segment is strategically important for us and we look forward to building a close relationship with the Hong Kong Baptist University.”
He added: “We are committed to supporting investment activity for tertiary institutions globally, allowing them to focus their attention on running schools and providing education. Endowments are a growing segment in the APAC region and there is an increasing need for more timely, accurate and granular reporting.”
“Northern Trust’s strong and robust technology platform, combined with our experience of dealing with academic institutions ensures we are well placed to support the university in achieving its investment objectives.”
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