Northern Trust to offer outsourced trading services to Illinois pension fund
19 February 2020 Chicago
Image: Shutterstock
Northern Trust is set to expand its 30-year old business relationship with Illinois Municipal Retirement Fund (IMRF) to equip it with its Integrated Trading Solutions service.
The US bank’s mandate with Illinois’ second-largest public retirement plan, worth $44 billion, already includes securities lending, global custody, banking, treasury services, and investment management, among other services.
Now, the Integrated Trading Solutions will provide outsourced trading and middle-office functionality for a domestic equity portfolio managed internally by IMRF.
“Through Integrated Trading Solutions, we provide global trade execution, matching, and transaction cost analysis reporting that supports IMRF’s commitment to delivering quality and cost-efficiency,” says Grant Johnsey, head of institutional sales and trading, at Northern Trust Securities.
“Our trade execution solution is helping the IMRF team free-up resources while allowing them to exercise the high levels of oversight and governance that they and their participants demand,” he adds.
The US bank’s mandate with Illinois’ second-largest public retirement plan, worth $44 billion, already includes securities lending, global custody, banking, treasury services, and investment management, among other services.
Now, the Integrated Trading Solutions will provide outsourced trading and middle-office functionality for a domestic equity portfolio managed internally by IMRF.
“Through Integrated Trading Solutions, we provide global trade execution, matching, and transaction cost analysis reporting that supports IMRF’s commitment to delivering quality and cost-efficiency,” says Grant Johnsey, head of institutional sales and trading, at Northern Trust Securities.
“Our trade execution solution is helping the IMRF team free-up resources while allowing them to exercise the high levels of oversight and governance that they and their participants demand,” he adds.
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