Crossmark Global Investments has selected Northern Trust to provide fund accounting and administration, transfer agency and global custody services for Crossmark Steward Funds.
The investment strategy and solutions provider has approximately $1.3 billion assets under management in its family of mutual funds.
Northern Trust’s global fund services sector provides a range of products and services pertaining to fund administration, global custody and investment operations outsourcing.
Michael Kern, president and CEO of Crossmark, commented: “Increasing operational efficiency and reducing costs for the Steward Funds were our primary objectives in seeking a new fund services provider, but cultural alignment with our firm was equally important.”
He added: “Northern Trust’s reputation for financial strength and stability are well-known. In addition, through our due diligence process it became clear that Northern Trust’s vision for technological innovation and commitment to client-centric service put them in the best position to provide the proactive operational support we sought in a manner consistent with our values.”
Ryan Burns, head of global fund services, Americas, Northern Trust, said: “We are excited to add Crossmark to our client roster and look forward to supporting the Steward Funds and their values-based investment strategies.”
“Outsourcing key operational functions to a trusted provider will allow Crossmark to focus on executing its business strategy, growing assets in its funds and helping clients meet their investment goals.”
