Press release
Northern Trust Provides Middle Office Services for Martin Currie Investment Management
Supporting US$21 Billion Investment Manager’s Focus on Operating Model Efficiency and Robustness LONDON--(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) is
About this update from Northern Trust Corporation
[{"type":"text","content":"\nSupporting US$21 Billion Investment Manager’s Focus on Operating Model Efficiency and Robustness \n\n LONDON--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) is providing middle office services for Martin Currie Investment Management (Martin Currie) in the United Kingdom (UK).\n\nMartin Currie is a long-term global equity growth investor with assets under management (AuM) of £15.4 billion (approximately US$21.2 billion). It is a specialist investment manager of parent company Franklin Resources, Inc., a global organization with AuM totaling US$1.5 trillion (all figures as of 31 March 2021).\n\nMartin Currie has completed the migration of outsourced investment operations functions to Northern Trust for its book of assets managed from UK offices in Edinburgh and London. These include performance measurement and client reporting activities that were previously managed in-house.\n\nSelecting Northern Trust for middle office services supports Martin Currie’s strategy of globalizing its operating model to enhance efficiencies and consistency of approach. The appointment mirrors arrangements it has in place for its Australian business, which is also supported by Northern Trust.\n\nEuan Wilson, chief administration officer at Martin Currie, said: “As we work to create long-term, sustainable value for investors, our choice of middle office services provider is crucial for the data required to inform our decision-making and support the smooth flow of everyday investment functions. Northern Trust’s ability to demonstrate operational robustness and to integrate with our order management system were among the key reasons for this appointment.”\n\nLaurence Everitt, head of Global Fund Services, UK, at Northern Trust, said: “We are pleased to support the evolution of Martin Currie’s operating model and its approach of helping maximize efficiencies by outsourcing selected functions. As investment managers explore how best to focus their resources, Northern Trust has the technology, global scale and flexibility to help drive operational performance, support their governance and shorten time to market.”\n\nNorthern Trust’s middle office services are part of its Whole Office™ strategy. Northern Trust Whole Office is an advanced open architecture, multi-asset class solution serving diverse market participants, including asset managers, asset own...