Northern Trust appointed by West Sussex Pension Fund
09 April 2010 Chicago
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Northern Trust 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."
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."
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