Reliance Trust Company chooses Northern Trust for investment services
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Reliance Trust Company chooses Northern Trust for investment services 31 August 2017Chicago Reporter: Jenna Lomax
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Northern Trust has been chosen by Reliance Trust Company to provide back-office services including custody, fund accounting, and transfer agency for a collective investment trust (CIT) sub-advised by Driehaus Capital Management.
Dan Houlihan, head of global fund services for North America at Northern Trust, said: “We are excited to be working closely with both Reliance Trust and Driehaus Capital Management to support this CIT fund for qualified retirement plans.”
He added: “Our strong back-office service, expertise and technology, combined with Reliance Trust’s experience in The Employee Retirement Income Security Act of 1974, bring together two parties with exceptional financial strength on behalf of asset managers like Driehaus Capital Management.”
Tom Seftenberg, managing director at Driehaus Capital Management, said the mandate was based on Northern Trust and Reliance Trust’s understanding of the business, and their “innovation and proactive engagement”,
He commented: “Northern Trust’s culture of client service excellence and Reliance Trust’s commitment to oversight dovetail nicely with our investment responsibilities and distribution efforts.”
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