Northern Trust good for Health 23 November 2010Chicago Reporter: Justin Lawson
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Northern Trust has been selected as global custodian for John Muir Health of Walnut Creek, California. Northern Trust will provide global custody for more than $800 million in pension, endowment and operating funds, as well as benefit payment services for the organization's pension plan.
"Northern Trust's combination of reporting and technology wrapped in a client service package showcased its commitment to the complex needs of not-for-profit institutions," said Greg Schwartz, Director of Treasury for John Muir Health. "With a single, global operations platform and a single point of contact, Northern Trust will help us to maximize efficiencies across our programs, while we focus on our core objectives as an institution."
John Muir Health is a not-for-profit organization that includes two of the largest medical centers in Contra Costa County. Its Walnut Creek Campus and Concord Campus are recognized as preeminent centers for cardiovascular care, orthopedics, neurosciences, cancer care and high-risk obstetrics.
"We are proud to have been selected as the global custodian for John Muir Health, a premier health care organization that maintains the highest standards in its industry," said Laurie Neu, Group Head for Public Entities and Institutions at Northern Trust. "Northern Trust meets the accounting and benefits payment needs of health care clients with sophisticated investment strategies and a dedicated team."
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