Northern Trust has been selected by Pendal Group Limited, the global investment manager, to provide a range of asset services across its Australia, UK and Ireland offices.
Northern Trust has also expanded the number of existing services it performs for Pendal’s business in the US.
The appointment by Pendal covers its wholly owned subsidiary J O Hambro Capital Management (JOHCM) in North America and Europe as well as its Australian business.
Northern Trust has provided fund administration, regulatory administration, global custody and transfer agency services to JOHCM since establishing its first mutual fund offering in the US in 2009.
This mandate will now be extended to include global custody, fund accounting, financial and regulatory reporting, collateral management, foreign exchange and middle-office services across all Pendal’s businesses.
Nicholas Good, CEO at Pendal, says: “Northern Trust has delivered high quality service to our US business for over a decade now. They have a clear partnership approach and a service focus that is distinct from their peers. Their expansive service offering will allow us to consolidate the number of providers we have across the business, thereby simplifying our operating platform and standardising a number of our key processes.”
Pete Cherecwich, president for corporate and institutional services at Northern Trust, comments: “We are delighted to see the expansion of our partnership globally with Pendal to include their Australia, UK and Ireland operations. This mandate underscores the value of our global operating model and focuses on supporting our clients across the globe in whichever markets they operate.”
