Northern Trust selected by Kensington & Chelsea
Northern Trust Global Investments has won the mandate for transition management services for the Royal Borough of Kensington and Chelsea.
Northern Trust will also run a $129 million index portfolio for the next six months. The bank already provides custody services for the Borough's $721 million in assets.
Royal Borough of Kensington and Chelsea head of financial services Paul Kidd said: "We appointed NTGI based on their track record of performance in providing custody services to us since 2009, as well as their strong reputation for transition management.
"We also recognised the efficiencies in consolidating our custody and transition management requirements into one provider."