Northern Trust has been has been reappointed as global custodian for the Los Angeles Fire & Police Pension System.
The Los Angeles Fire & Police Pension System is a public pension plan covering approximately 13,000 active members and 12,000 retirees and beneficiaries.
Los Angeles Fire & Police Pensions System chief investment officer Tom Lopez said Northern Trust has provided top-notch service, and the stability of their servicing team was a distinguishing aspect as Los Angeles Fire & Police Pensions System considered renewing this relationship.
"The array of custody, performance and risk services that Northern Trust provides is critical to meeting our goals in supporting our 25,000 plan constituents," Lopez said.
Northern Trust head of North American asset servicing sales Jon Dunham said large public pension systems like L.A. Fire & Police require a combination of financial strength and stability, first-rate client service and technology innovation from their global custody provider. Northern Trust is committed to these plans, with dedicated public fund teams, specialized accounting and reporting capabilities and user-friendly tools for compliance monitoring and other oversight functions.
The Los Angeles Fire & Police Pension System administers the defined retirement plan benefits for all sworn fire, police and certain port police employees of the City of Los Angeles.