Northern Trust expands its partnership with NDRIO
13 August 2025 US
Image: ChrisLawrence/stock.adobe.com
Northern Trust has announced an expansion of its long-standing relationship with the North Dakota Retirement and Investment Office (NDRIO) to include outsourced trading services, which, according to the firm, will support the agency’s strategy to bring more of its State Investment Board’s (SIB’s) asset management in-house.
NDRIO will leverage Northern Trust’s Integrated Trading Solutions platform to enhance trading efficiency and execution coverage for assets that will be managed by the agency rather than external investment firms.
NDRIO manages investments for more than two dozen SIB client funds, the largest being the US$12 billion North Dakota Legacy Fund, Public Employees Retirement System, Teachers' Fund for Retirement, and Workforce Safety and Insurance Fund.
Melanie Pickett, head of asset servicing, Americas, says: “At Northern Trust, we work closely with asset owner clients as they evolve to fulfill their missions and serve their constituents.
“We’ve had the privilege of working with NDRIO for more than 35 years and we are honored to be an extension of their team, providing an efficient and scalable outsourced trading and operations platform to support their investment strategy.”
Scott M. Anderson, chief investment officer, adds: “NDRIO is at a pivotal and exciting stage in its evolution as we continue to build scale and enhance our internal investment platform to better serve the SIB’s diverse client funds.
“Our partnership with Northern Trust reflects a deliberate move to align with a provider that brings deep expertise in trading, settlement, and operational excellence.”
NDRIO will leverage Northern Trust’s Integrated Trading Solutions platform to enhance trading efficiency and execution coverage for assets that will be managed by the agency rather than external investment firms.
NDRIO manages investments for more than two dozen SIB client funds, the largest being the US$12 billion North Dakota Legacy Fund, Public Employees Retirement System, Teachers' Fund for Retirement, and Workforce Safety and Insurance Fund.
Melanie Pickett, head of asset servicing, Americas, says: “At Northern Trust, we work closely with asset owner clients as they evolve to fulfill their missions and serve their constituents.
“We’ve had the privilege of working with NDRIO for more than 35 years and we are honored to be an extension of their team, providing an efficient and scalable outsourced trading and operations platform to support their investment strategy.”
Scott M. Anderson, chief investment officer, adds: “NDRIO is at a pivotal and exciting stage in its evolution as we continue to build scale and enhance our internal investment platform to better serve the SIB’s diverse client funds.
“Our partnership with Northern Trust reflects a deliberate move to align with a provider that brings deep expertise in trading, settlement, and operational excellence.”
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