Northern Trust Wins Global Custody Mandate From UK Arm of The Navigators Group
LONDON, Feb. 11 /PRNewswire/ -- Northern Trust (Nasdaq: NTRS) announced today that it will provide global custody and investment accounting services to US$250 million (approximately GB 150 million pounds Sterling) in insurance assets for the UK branch of Navigators Insurance company, a subsidiary of The Navigators Group, Inc.
Navigators, headquartered in New York, is an international specialist insurance holding company with offices in the US, UK and Europe.
"We appointed Northern Trust because of their proven expertise in servicing insurance assets," said Frank McDonnell, Senior Vice President & Chief Financial Officer at Navigators.
"We are delighted to have been appointed by Navigators, adding another insurance client to our growing group," said Douglas Gee, UK institutional sales manager for asset servicing at Northern Trust. "We offer a specialist asset servicing solution that concentrates on addressing the needs of insurance companies – such as the Lloyds insurance market – in particular responding to the requirement for consolidated investment accounting data. Our web-based client portal, Passport, enables all our clients to access precise information about their assets, including integrated investment, risk, portfolio and market data, as well as analytics from third-party providers."
Northern Trust currently provides asset servicing and asset management solutions to more than 120 insurance clients across the globe. As part of its suite of products catering specifically to insurance clients, Northern Trust offers an international accounting and financial reporting outsourcing solution.
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 operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.
Northern Trust in Hong Kong is a securities company regulated by the Securities and Futures Commission.
Northern Trust in Singapore is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
Northern Trust operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.
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 Global Services is authorised and regulated in the Netherlands by De Nederlandsche Bank.
Northern Trust Global Services Limited Luxembourg Branch is authorised and regulated by the Financial Services Authority and in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF) and Northern Trust Luxembourg Management Company S.A. is regulated by the CSSF.
Northern Trust Global Services Limited – Abu Dhabi. Representative Office, Licence number 13/238/2008.
Where Northern Trust's UK entities undertake regulated business, they are authorised and regulated in the United Kingdom by the Financial Services Authority.
Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.
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.
Northern Trust Global Services Ltd (UK) Sweden Filial is a BCD Passported branch of Northern Trust Global Services Ltd a firm authorised and regulated in the UK by the Financial Services Authority ('FSA').
SOURCE Northern Trust Corporation
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