Hermes Investment Management Awards Northern Trust Mandate Extending Longstanding Relationship
Aug. 22, 2018
LONDON--(BUSINESS WIRE)--Aug 22, 2018--Hermes Investment Management, the GB£33.6 billion manager (as of 31 March, 2018), has awarded a middle office outsourcing mandate to Northern Trust (Nasdaq: NTRS). The Investment Operations Outsourcing (IOO) mandate, extends the longstanding relationship with the leading investment house by five years.
“After an extensive review we have renewed our relationship with Northern Trust,” said Ian Kennedy chief operating officer, Hermes Investment Management. “It is imperative that we partner with a provider who can meet the demands of our business, and look forward to continuing to collaborate with them.”
Headquartered in London, Hermes Investment Management provides a broad range of specialist, active investment strategies and stewardship services to institutional and wholesale clients across the globe. Hermes’ strategies focus not just on financial results, but also on delivering outcomes beyond performance: holistic returns that consider impacts to society, the environment and the wider world.
“We are pleased to extend our longstanding relationship with Hermes,” said Clive Bellows, head of global fund services for Europe, Middle East and Africa (EMEA) at Northern Trust. “We work closely with our clients to deliver solutions that support their specific and evolving requirements and our middle office outsourcing solutions are just one example of how we help take away the administrative burden from our clients so they can focus on their core business.”
Northern Trust provides full and component investment operations outsourcing services to asset managers across the globe. It has a single global operating model, servicing 26 global locations. As of 30 June 2018, Northern Trust has 50 full IOO relationships and 58 component outsourcing relationships with US$3 trillion in assets under administration on behalf of IOO clients. It supports a complex range of product, market and asset types.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2018, Northern Trust had assets under custody/administration of US$10.7 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures.
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CONTACT: Northern Trust
Europe, Middle East, Africa & Asia-Pacific Contacts:
+44 (0) 207 982 2176
+44 (0) 207 982 1445
US & Canada Contact:
+1 312 444 2388
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE OTHER PROFESSIONAL SERVICES
SOURCE: Northern Trust
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PUB: 08/22/2018 04:00 AM/DISC: 08/22/2018 04:01 AM