Devon County Council names Northern Trust
12 June 2014 London
Image: Shutterstock
Devon County Council has selected Northern Trust for its 拢3 billion local government pension scheme.
Northern Trust will provide global custody and securities lending for the council鈥檚 拢3 billion pension fund assets.
Mark Gayler, assistant county treasurer at Devon County Council, said: "Northern Trust's ability to provide solutions to meet our requirements, combined with their leading expertise across the local government pension scheme (LGPS) sector, were key factors in their appointment."
"In addition, Northern Trust's strong securities lending capabilities supported our objectives to maximise our investment portfolio."
Penelope Biggs, head of the institutional investor group for Europe, Middle East and Africa at Northern Trust, said: "We continue to look for services we can offer pension funds faced with an evolving regulatory landscape."
鈥淲e see an increasing demand from pension funds for informed guidance, and we can work with our LGPS clients to support their objectives," said Robert Frazer, head of the institutional investor group for the UK at Northern Trust.
Northern Trust supports nearly 200 UK pension fund clients and provides custody and ancillary services to 36 percent of the total LGPS market in the UK.
The bank re-secured a global custody, securities lending, cash management and foreign exchange services mandate with UK government pension scheme Strathclyde for the fourth consecutive term in December 2013.
At 拢13.7 billion in pension assets, Strathclyde is the largest local government pension scheme in the UK.
Northern Trust will provide global custody and securities lending for the council鈥檚 拢3 billion pension fund assets.
Mark Gayler, assistant county treasurer at Devon County Council, said: "Northern Trust's ability to provide solutions to meet our requirements, combined with their leading expertise across the local government pension scheme (LGPS) sector, were key factors in their appointment."
"In addition, Northern Trust's strong securities lending capabilities supported our objectives to maximise our investment portfolio."
Penelope Biggs, head of the institutional investor group for Europe, Middle East and Africa at Northern Trust, said: "We continue to look for services we can offer pension funds faced with an evolving regulatory landscape."
鈥淲e see an increasing demand from pension funds for informed guidance, and we can work with our LGPS clients to support their objectives," said Robert Frazer, head of the institutional investor group for the UK at Northern Trust.
Northern Trust supports nearly 200 UK pension fund clients and provides custody and ancillary services to 36 percent of the total LGPS market in the UK.
The bank re-secured a global custody, securities lending, cash management and foreign exchange services mandate with UK government pension scheme Strathclyde for the fourth consecutive term in December 2013.
At 拢13.7 billion in pension assets, Strathclyde is the largest local government pension scheme in the UK.
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