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Northern Trust wins GB£6.7 Billion Mandate from NILGOSC

05 May 2017

Northern Trust has been appointed by Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC) to provide global custody, accounting, securities lending, performance measurement and foreign exchange services for its GB£6.7 billion (US$8.5 billion) in pension fund assets.

This is the 13th appointment for Northern Trust under the Local Government Pension Schemes (LGPS) National Framework Agreement (NFA), endorsing its track record in meeting the unique needs of its pension clients and reinforcing its leadership position amongst the LGPS. 

“As a leading expert across the LGPS, Northern Trust has a strategic focus on the LGPS market and a proven commitment to this segment,” said David Murphy, Chief Executive of NILGOSC, which administers the Local Government Pension Scheme for Northern Ireland. “Combined with its ability to provide high-quality tailored solutions that meet our specific requirements, this was a key factor in their appointment.”

Northern Trust supported the NILGOSC through the onboarding with a team of highly experienced professionals that is dedicated solely to transitioning new clients’ assets. Over the past four years, it has successfully transitioned some of the most sophisticated UK pension funds, onboarding 36 new pension fund clients with total assets under custody of approximately $158bn .

“We are delighted to have been appointed by the NILGOSC,” said James Wright, head of the Institutional Group UK and Ireland, Northern Trust. “At Northern Trust, we understand that the pensions landscape is continually evolving and are committed to creating tailored solutions for our clients to meet their changing needs. We are a focused and trusted provider to pension funds and through our experience and expertise are well placed to help them meet their demands for regulatory compliance, governance and transparency.” 

Northern Trust has an ongoing commitment to all LGPS.  Its Institutional Investor group currently supports 43 percent of the LGPS, 35 percent of the top 100 UK pension schemes , and six of the largest UK pension funds. Its dedicated programme of educational workshops, and thought leadership is central to supporting its LGPS clients as they work through the latest developments impacting the industry.