Northern Trust has been selected by Guildford Borough Council in the UK, to provide its treasury team with treasury management services that include integrated trading solutions, alongside global custody and cash management.
These services will also support Guildford Borough Council’s requirements for asset safety and cash management across its investment programme.
Guildford’s team will also use Northern Trust’s post-trade analytics and investment reporting, in alignment with the borough’s governance framework.
Mark Austin, head of Northern Trust’s UK institutional investor group, said: “Northern Trust understands that UK local government treasury teams face distinctive pressures. These pressures include the need to generate returns while remaining within tightly-prescribed risk frameworks.”
“Our 23 years of working with local authorities–coupled with our global asset servicing and capital markets capabilities–means we are well-placed to support them in their mission.”
Councillor Joss Bigmore, lead councillor for finance, asset management and customer service at Guildford Borough Council, said: “We are delighted to have Northern Trust on board to work with us. They will provide additional services to the council to help us to continue to diversify our investment portfolio and manage our treasury management activities.”
