Press release
Northern Trust Grows UK Pension Assets Under Custody by More Than US$72 Billion in 2019
Growth Underscores Strategic Commitment to UK Pension Industry – Spanning Master Trusts, Corporate and Local Government Pension Schemes LONDON--(BUSINESS
About this update from Northern Trust Corporation
[{"type":"text","content":"\nGrowth Underscores Strategic Commitment to UK Pension Industry – Spanning Master Trusts, Corporate and Local Government Pension Schemes\n\n LONDON--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) grew its assets under custody from UK pension fund clients by more than US$72 billion in 2019 – underscoring its strategic commitment to the United Kingdom’s (UK’s) retirement industry.\n\n\nThe growth in 2019 was driven by both new client wins and asset inflows across 20 marquee clients – including both corporate and local government defined benefit (DB) pension schemes and defined contribution (DC) master trusts.\n\n\nMark Austin, head of United Kingdom, Institutional Investor Group at Northern Trust, comments: “Whatever the path chosen to achieve their investment objectives, Northern Trust is committed to supporting pension funds on that journey. As today’s investment environment drives change and complexity, our solutions – from outsourced financial accounting and alternatives administration to middle office services and outsourced trading – support UK pension teams with their day-to-day investment activities, governance and risk management obligations.”\n\n\nNorthern Trust’s Institutional Investor Group provides services to more than 270 UK pension funds with collectively more than US$851 billion in assets under custody. Clients serviced include DC master trusts, DB corporate schemes and funds of the UK Local Government Pension Scheme, with assets varying in size from US$20 million to US$60 billion.\n\n\nAbout Northern Trust \n\n\nNorthern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2019, Northern Trust had assets under custody/administration of US $12.1 trillion, and assets under management of US $1.2 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.\n\n\nNorthern Trust Corporation, Head...