Boeing and JCP name Northern Trust as global custodian
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Boeing and JCP name Northern Trust as global custodian 17 August 2017Chicago Reporter: Jenna Lomax
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The Boeing Company has mandated Northern Trust to act as global custodian for its €54 billion defined contribution retirement plan, while equities manager JCP Investment Partners has put the bank in charge of its range of Australian fund products.
Northern Trust will provide Boeing’s plan with global custody, valuation and unitisation of assets, as well as regulatory and performance reporting solutions, compliance monitoring, derivatives processing and third-party custom cash fund servicing.
Frederick Waddell, CEO of Northern Trust, said of the Boeing mandate: “We are pleased to be selected as a trusted provider that can support all dimensions and directions of Boeing’s investment programme.”
“Large, sophisticated retirement plans continue to choose Northern Trust for our unique combination of global scale and highly flexible accounting and reporting solutions that can adapt quickly to changing plan needs. We believe no other provider can offer the commitment to supporting each individual plan’s vision better than Northern Trust.”
Northern Trust, building upon an existing relationship with JCP, which acts as investment manager to the bank’s mutual institutional clients, will provide global custody, fund administration and associated services for its range of Australian fund products.
Nancy Day, COO of JCP, commented: “JCP is pleased to appoint Northern Trust to service our wholesale funds and recently launched retail funds. The quality and depth of Northern Trust’s service offering, with a local team that is supported by innovative data solutions and a global technology platform and operating model, were key contributors in our decision to select Northern Trust.”
“We are confident in their ability to provide the strong operational support necessary to facilitate the delivery of high quality services to our clients.”
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