Northern Trust gets UK pension mandate 10 November 2011London Reporter: Anna Reitman
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Northern Trust has won a £1.5 billion asset servicing mandate for Superannuation Arrangements of University of London (SAUL).
The firm is reappointed to provide global custody, securities lending, cash and foreign exchange services for SAUL with extended services to include investment risk and analytics as well as record keeping for private equity and infrastructure funds.
“We were looking for a provider who could demonstrate an understanding of SAUL’s needs and strategy whilst being able to help us meet our future objectives of reducing administration costs, improving internal governance and maximising investment returns,” said Penny Green, chief executive and managing director, SAUL Trustee Company.
The retention and expansion of this mandate follows a series of wins for Northern Trust in the UK pensions sector such as the Lancashire County pension fund and the Dyfed and Lothian pension schemes.
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