Jersey government puts £3.2 billion of faith in Northern Trust
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Jersey government puts £3.2 billion of faith in Northern Trust 12 September 2012Jersey Reporter: Georgina Lavers
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The government of Jersey has appointed Northern Trust to provide data, analytics and consolidated reporting to £3.2 billion in assets.
Following a competitive tender, Northern Trust will now provide record master record keeping across the States of Jersey’s Common Investment Fund, the Jersey Teachers’ Superannuation Fund, and the States of Jersey Public Employees Contributory Retirement Scheme.
Laura Rowley, treasurer of the States of Jersey, said: “Northern Trust’s customised solution, which included accounting, performance measurement, and compliance monitoring across all of our entities, is supported by their ability to look through to our underlying holdings within our pooled funds and provide better reporting and risk analysis.”
“Our pension fund clients face increased challenges and regulatory pressures to provide a consistent and consolidated view of all their assets,” said Douglas Gee, head of UK sales for the institutional investor group at Northern Trust.
“We continue to see demand for timely, accurate and independently valued data, in some cases regardless of their other existing custodian arrangements.”
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