Northern Trust has been appointed by The National Trust to provide global custody and related services to £881m in charity assets.
Northern Trust said it will provide custody, investment accounting and performance measurement services to the trust which, independent of government, works to preserve and protect the coastline, countryside and historic buildings of England, Wales and Northern Ireland.
The National Trust assistant director for Treasury & Fund Management Paul Maguire said that the trust needed a provider who could not only support its asset servicing requirements, but one who had experience in the trust’s sector and could provide a high level of client service, supporting the trust’s changing requirements as it continues to evolve.
As of 30 September 2010, Northern Trust had assets under custody of $3.9 trillion across all sectors, including institutions, such as pension funds, charities and foundations, insurance companies, sovereign wealth funds and families worldwide, and private investors worldwide.