Northern Trust named custodian for South Yorkshire Pensions Authority
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Northern Trust named custodian for South Yorkshire Pensions Authority 09 January 2025UK Reporter: Jack McRae
Image: stock.adobe.com/Chris Chambers
South Yorkshire Pension Authority (SYPA) has selected Northern Trust as its new custodian.
SYPA believes that the appointment will enhance the security of its £11 billion investment assets as well as improve the efficiency and effectiveness of how assets are managed.
The authority points to Northern Trust’s existing relationship with Border to Coast Pensions Partnership as a key factor in the appointment. SYPA aims to strengthen their partnership with the pool through Northern Trust,
Will Goddard, head of finance and performance at SYPA, says: “This is a great opportunity for the fund to benefit from Northern Trust’s extensive experience within the local government pension scheme and innovative approach to custodial services.“
Ian Hamilton, head of Asset Owners Europe at Northern Trust, adds: “Northern Trust understands the changes and challenges that the sector will navigate over the next 18 months as pools and schemes adapt and collaborate to meet the government’s timeline.”
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Image: stock.adobe.com/Chris Chambers 