Northern Trust nabs the next Generation 29 June 2012London Reporter: Mark Dugdale
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Generation Investment Management has reappointed Northern Trust as the outsourcing provider of full investment operations for its asset management business.
The investment management firm originally appointed Northern Trust in 2005 to provide custody, investment operations outsourcing, fund accounting, transfer agency, performance measurement and client reporting for its funds in Dublin and Delaware.
“Since initially appointing Northern Trust, Generation has grown significantly,” said Peter Harris, the COO at Generation Investment Management. “Outsourcing the majority of our operations to Northern Trust enables us to focus on managing our clients’ assets and benefit from the company’s global expertise and technologies. We are pleased to continue our broad relationship.”
Laurence Everitt, the head of global fund services in the UK at Northern Trust, added: “Outsourcing reduces the administrative burden of asset management, enables cost-efficiencies, and has the potential to reduce operational risk.”
Northern Trust’s global fund services business provides custody, fund administration, and investment operations outsourcing solutions to investment managers across the globe and across asset classes.
It has 20 full outsourcing clients and another 20 component outsourcing relationships in Europe, North America and Asia-Pacific.
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