Business
Canada Life Asset Management Appoints Northern Trust for Asset Servicing Solutions
Supports Manager’s Focus on Operating Model Efficiency and Data Quality as Strategic Asset Servicing Provider LONDON--(BUSINESS WIRE)-- Northern Trust
About this update from Northern Trust Corporation
[{"type":"text","content":"\nSupports Manager’s Focus on Operating Model Efficiency and Data Quality as Strategic Asset Servicing Provider\n\n\n LONDON--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) today announces it has been selected by Canada Life Asset Management (CLAM), for asset servicing solutions including middle office outsourcing, global custody, securities lending, fund administration and depositary services.\n\n\nNorthern Trust’s appointment consolidates the provision of all CLAM middle office solutions with a single service provider and includes the provision of both investment book of record and data solutions.\n\n\nHeadquartered in London, United Kingdom (UK), CLAM manages over £39.6bn (as of 31 March 2024) across a varied range of asset classes including fixed income, equities, UK property, and multi-asset solutions. CLAM is part of Canada Life, which provides insurance and wealth management products and services in Canada, the UK, Isle of Man and Germany.\n\n\nMark Giancola, Chief Operating Officer, Asset Management at Canada Life Asset Management, commented: “We selected Northern Trust because of their capability to support our diverse range of investments, deliver the high-quality data on which we manage our business and integrate seamlessly with our order management system of choice. We are confident that Northern Trust is the partner to support us as we continue to help our investors and their clients achieve their long-term financial goals.”\n\n\nLaurence Everitt, Head of Global Fund Services, UK at Northern Trust, said: “We are delighted to be supporting CLAM’s range of investments – including its focus on operating model efficiency and data quality – as its strategic asset servicing provider. Our investment in technology, global operating model and ability to support multiple asset classes on a single platform, all align with the requirements of institutional asset managers and asset owners to simplify their operating models whilst managing complexity.”\n\n\nNorthern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.\n\n\nAbout Northern Trust\n\n\nNorthern Trust Corporation (Nasdaq: NTRS) is a leading...