£700 million custody mandate for Northern Trust 24 May 2012London Reporter: Georgina Lavers
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Northern Trust has been appointed to provide custody and performance measurement services to £700 million ($1.1 billion) in assets for The Alcatel Pension Scheme, a global telecommunications corporation.
"We appointed Northern Trust based on its conservative business model, financial strength, focus on the pensions sector and integrated reporting capability," said Bill Kear, Pensions Manager at The Alcatel Pension Scheme. "They understand our unique requirements and challenges and can offer us a range of cost-effective asset servicing solutions to help us manage our business."
"We understand our pension fund clients face increasing regulatory challenges and a requirement for access to granular data on all their investments daily," said Douglas Gee, head of sales for Northern Trust's Institutional Investor Group.
"Through Northern Trust's web-based client portal Passport(R) we provide clients with access to investment valuations, general ledger accounting, specialist financial reporting, performance measurement, compliance monitoring, risk analytics and many other services that are critical to running a complex institutional pension fund."
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