Securities lending programme "key" for Northern Trust's new mandate
Latest news
Securities lending programme "key" for Northern Trust's new mandate 23 August 2011Oslo Reporter: Anna Reitman
Image: Shutterstock
Baerum Kommune identified Northern Trust's securities lending programme as a key factor in awarding a NOK600 million (€76.4m) asset servicing mandate.
"As a municipal investment fund, our selection must stand up to public scrutiny. Northern Trust's robust securities lending programme and processes were amongst a number of key factors in our decision making, together with its long track record in, and commitment to, the Nordic region," said Astrid Auran Nesbo, director of finance at Baerum Kommune.
Northern Trust will provide global custody, securities lending, transition management and foreign exchange services.
"Northern Trust has a long heritage of working in the Nordics, combining our global strength and capabilities with local expertise and local language speakers," said Madeleine Senior, managing director of Northern Trust in the Nordic region.
"Our Nordic client base is diversifying. We are able to offer optimal solutions to a range of institutional investors and asset managers that need to meet complex reporting requirements, as well as compliance and regulatory obligations, whilst also ensuring that their assets work hard through our global securities lending programme, transition management and foreign exchange services," she added.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 