Business & Finance
Business and Finance
Business and Finance
Wed, July 28, 2010 
LONDON--([ BUSINESS WIRE ])--Northern Trust (Nasdaq:NTRS) announced today that it has been appointed to provide global custody, transition management, investment accounting and performance measurement services to GB2 billion (approximately US$3 billion) in pension fund assets for Babcock International Group PLC pension schemes.
"We wanted an asset servicing partner to help us with the next stage of our evolution as we look to consolidate our investment accounting and reporting strategy across all four Babcock pension schemes."
Babcock is the leading engineering support services company operating in the marine support services and defence businesses in the UK and overseas. It has achieved industry recognition for its innovative investment strategy within the pensions marketplace a" with three of its pension funds first to conduct longevity swaps in 2009.
aThe Trustee Investment subcommittee appointed Northern Trust following a competitive tendering process,a said Andrew Birkett, group pensions manager at Babcock. aWe wanted an asset servicing partner to help us with the next stage of our evolution as we look to consolidate our investment accounting and reporting strategy across all four Babcock pension schemes.a
aWe are delighted to have been appointed by Babcock, a leading name in the pensions market,a said Douglas Gee, UK business development manager for asset servicing at Northern Trust. aWe increasingly see clients looking for advanced asset reporting capabilities in addition to core global custody services. Northern Trusta™s sophisticated web-based client portal, Passport®, provides for this need by enabling all our clients to access precise daily information on their assets, when they want it, including integrated investment accounting, performance measurement, compliance monitoring and risk analytics.a
Northern Trust provides custody, asset servicing and asset management solutions to approximately one-third of the top 200 pension funds in the UK and one-third of all UK local government pension funds.
In recognition of consistency in performance, stability and expertise, Northern Trust was named global custodian of the year (EMEA weighted), at the Global Investor Awards held in London during July 2010. Global Investor Magazine, published by Euromoney Institutional Investor PLC, focuses on custody and fund administration for asset managers globally and is distributed to over 7,300 readers worldwide.
About Northern Trust
Northern Trust Corporation (Nasdaq:NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2010, Northern Trust had assets under custody of US$3.5 trillion, and assets under investment management of US$603 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit [ http://www.northerntrust.com ]
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.
The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia-Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.
- Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
- Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.
- Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
- Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
- Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
- Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
- The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
- The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI)and is regulated by the Australian Prudential Regulation Authority.
- The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
- The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
- The Northern Trust Company operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.
- Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
- Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
