Abu Dhabi Pension Fund picks Northern Trust for securities lending services
03 October 2023 UAE
Image: monticellllo
Abu Dhabi Pension Fund (ADPF) has selected Northern Trust to provide its securities lending and global custody services, effective 1 January 2024.
The ADPF is a growing pool of sovereign sponsored pension assets in the Middle East.
Tasked with managing contributions, pensions and end-of-service benefits for United Arab Emirates (UAE) nationals affiliated with the government and private sectors in Abu Dhabi, the ADPF also extends its services to the retirees and their beneficiaries.
Northern Trust will assist the ADPF with investment allocation, liquidity management and portfolio optimisation. As part of the mandate, Northern Trust will also provide ADPF with alternative asset administration services.
James Wright, head of asset owners, EMEA at Northern Trust, comments: “We are delighted that ADPF has appointed us as their global custodian. As a leading provider in the region, with more than 35 years of experience in servicing clients in the Middle East, we are excited to continue to grow in the market and are committed to delivering client-centred solutions to large, complex asset owners.”
Ali Alqemzi, chief operating officer for investment at ADPF, says: “Northern Trust stood out due to their focus on asset owners, particularly those with sophisticated allocations across public and private assets.
“Their ability to adapt to the evolving financial landscape, as evidenced by their investment in technology and development of solutions that are targeted to funds such as ourselves, is important to us as we grow, and our asset allocation needs evolve.”
The ADPF is a growing pool of sovereign sponsored pension assets in the Middle East.
Tasked with managing contributions, pensions and end-of-service benefits for United Arab Emirates (UAE) nationals affiliated with the government and private sectors in Abu Dhabi, the ADPF also extends its services to the retirees and their beneficiaries.
Northern Trust will assist the ADPF with investment allocation, liquidity management and portfolio optimisation. As part of the mandate, Northern Trust will also provide ADPF with alternative asset administration services.
James Wright, head of asset owners, EMEA at Northern Trust, comments: “We are delighted that ADPF has appointed us as their global custodian. As a leading provider in the region, with more than 35 years of experience in servicing clients in the Middle East, we are excited to continue to grow in the market and are committed to delivering client-centred solutions to large, complex asset owners.”
Ali Alqemzi, chief operating officer for investment at ADPF, says: “Northern Trust stood out due to their focus on asset owners, particularly those with sophisticated allocations across public and private assets.
“Their ability to adapt to the evolving financial landscape, as evidenced by their investment in technology and development of solutions that are targeted to funds such as ourselves, is important to us as we grow, and our asset allocation needs evolve.”
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