Northern Trust has been selected by The World Bank Treasury to provide global custody and related services for its investment management business.
The World Bank Group aims to end extreme poverty by 2030 and boost shared prosperity by fostering income growth of the bottom 40 percent of the population in the countries in which it is present.
The World Bank Treasury provides capacity building to sovereign entities in portfolio and risk management, and middle/back-office functions.
Pete Cherecwich, president of corporate and institutional services at Northern Trust, said: “We are deeply honoured to support the objectives of the World Bank and its investment management operations as an asset servicing partner.”
He added: “It is our distinct privilege to deliver a range of innovative asset servicing and global market capabilities to the Bank. We work in strategic partnership with our clients to assist them in their growth initiatives and to create efficiencies with asset servicing skill and technology.”
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