LONDON--(BUSINESS WIRE)--Feb. 29, 2024--
Northern Trust (Nasdaq: NTRS) today announced it has been re-appointed by Border To Coast Pensions Partnership Limited (Border To Coast) to provide a range of asset servicing solutions spanning fund administration, custody, brokerage, securities lending and depositary services.
Established as a regulated asset manager in 2018, Border To Coast has grown to be one of the largest pension pools in the United Kingdom. Owned by 11 Local Government Pension Scheme (LGPS) funds with £60bn of investments, the partnership was created to pool the investments of the Partner Funds which are collectively responsible for more than 1.1 million LGPS members.
Fiona Miller, Deputy Chief Executive Officer at Border To Coast Pensions Partnership Limited comments: “Northern Trust has been instrumental in supporting our growth through the extension of services into more innovative asset classes, and continues to deliver change whilst maintaining high integrity on daily delivery. Their reappointment is a reflection of the strong relationship we have built, and our confidence in their ability to support our growth over the next five years.”
“We are delighted to continue our collaborative relationship with Border To Coast,” said James Wright, Head of Asset Owners, Europe, Middle East and Africa (EMEA) at Northern Trust. “This reappointment underscores our unwavering commitment to the LGPS sector and the wider UK retirement industry. A leading provider in the sector, we specialise in delivering dynamic, client-centred solutions to support the evolving needs of our pension fund clients across their entire organisation.”
Northern Trust’s Asset Owner business provides custody services to over 370 clients with collectively US$2.2 trillion in assets under custody across EMEA, as of 31 December 2023. It is focused on supporting the evolving needs of institutional investors including pension funds, multinational corporations, insurance companies, non-for-profit organizations, central banks, sovereign wealth funds and other inter-governmental agencies.
About Border To Coast Pensions Partnership Limited
Based in Leeds, Border To Coast is one of the largest LGPS pools in the UK. It is owned by 11 local government pension schemes (‘Partner Funds’). The Partner Funds represent 2,700 employers and over a million members. The Partner Funds are Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, North Yorkshire, South Yorkshire, Surrey, Teesside, Tyne and Wear and Warwickshire. Our Partner Funds have £60bn in investments, of which Border To Coast is directly responsible for the management of £40.3bn (as of 31 March 2023). We also provide support and advice on a further £8.2bn, primarily invested in index funds, which sit outside of the pool. Border to Coast offers its 11 Partner Funds investment opportunities across equities, fixed income, private markets, and global real estate. UK real estate is under development.
Border To Coast Pensions Partnership Ltd is authorised and regulated by the Financial Conduct Authority. Registered in England Number: 10795539 and Registered Office: 5th Floor, Toronto Square, Toronto Street, Leeds, LS1 2HJ.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2023, Northern Trust had assets under custody/administration of US$15.4 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions
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Media Contacts
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene
+44 (0) 20 7982 2176
Camilla_Greene@ntrs.com
US & Canada:
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
http://www.northerntrust.com
Source: Northern Trust
