Northern Trust will service the £11.5 billion (US$14.6 billion) fund that provides retirement benefits for 189,000 employees and 300 employers across Lancashire, north-west England
Northern Trust will be providing custody, fund administration, foreign exchange and cash management services for its newly formed Variable Capital Company (VCC) fund
They will gain access to solutions that include middle office outsourcing, global custody, securities lending, fund administration, and depositary services
Northern Trust aims to provide key services for Nest’s investment strategy, including custody, asset allocation and rebalancing, and performance measurement