Northern Trust Appointed by West Sussex Pension Fund for GBP1.5 Billion Custody Mandate

LONDON, April 8 /PRNewswire-FirstCall/ -- Northern Trust (Nasdaq: NTRS) has been appointed to provide global custody and investment accounting services to approximately GBP1.5 billion (US$2.23 billion) in pension fund assets for West Sussex Pension Fund, one of the largest pension funds in the UK.

This follows Northern Trust's appointment in 2009 to provide custody services to the Parliamentary Contributory Pension Scheme and the Royal Borough of Kensington and Chelsea pension scheme. Northern Trust also acts as global custodian for the Strathclyde Pension Fund, the largest local government pension scheme in the United Kingdom.

"We appointed Northern Trust following a competitive tender process," said Rachel Wood, Pension Fund Investment Strategist at West Sussex Pension Fund. "Northern Trust worked closely with us to understand our specific requirements and designed a cost-effective and technologically efficient solution tailored to our needs."

"Our appointment  as custodian to the West Sussex Pension Fund further  highlights Northern Trust's continued success in, and commitment to, serving local government pension schemes," said Douglas Gee, UK institutional sales manager for asset servicing at Northern Trust. "We understand our pension scheme clients are looking for solutions including, and beyond, custody, such as access to expertise and information on pensions, investments and government and regulatory issues, as well as proprietary research into market-related issues such as risk management and fiduciary management. Northern Trust's Retirement Solutions Practice brings expertise, knowledge and experience together to ensure this type of information is even more accessible to our clients."

Northern Trust provides custody and related services to approximately one-third of the top 200 pension funds in the UK and one-third of all UK local government pension funds. Northern Trust's UK pension fund custody business grew significantly in 2009, with 10 new clients in this segment alone.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2009, Northern Trust had assets under custody of US$3.7 trillion, and assets under investment management of US$627.2 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S.

The Northern Trust Company, London Branch (reg. no. BR001960),  Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.

The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.

• Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.
• Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
• Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.
• Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
• Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
• Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
• Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
• The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada).   Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada).  Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
• The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.
• The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
• The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
• The Northern Trust Company operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.
• Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
• Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.

IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. For more information about this notice, see http://www.northerntrust.com/circular230.

SOURCE Northern Trust Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED