Northern Trust Selected Asset Servicing Provider for $29 Billion Costco Retirement Plan
17 November 2023 - 2:15AM
Business Wire
Northern Trust (Nasdaq: NTRS) announced today that it has been
selected by Costco Wholesale Corporation to provide custody, daily
valuation and brokerage services for Costco’s defined contribution
retirement plan, with $29 billion in assets.
Headquartered outside of Seattle, Washington, Costco is the
world's third-largest retailer. As of its last earnings release,
Costco operates 861 warehouses, including 591 in the United States
and Puerto Rico. Costco also operates e-commerce sites in the U.S.
and several other countries.
“We are honored to be selected as asset servicing partner for
Costco’s defined contribution plan,” said Melanie Pickett, Head of
Asset Owners, Americas at Northern Trust. “Our success in the
defined contribution plan space is a testament to our years of
experience, innovative solutions and high level of commitment to
our clients’ needs. We look forward to providing outstanding client
service to Costco.”
Northern Trust has had an unwavering and longstanding commitment
to the asset owner space for many decades. The goal within the
asset owner segment is to empower the missions of its clients,
helping them to maximize investment returns so that they may then
serve their constituents, their communities, and the world.
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 a global presence
with offices in 25 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of September 30, 2023, Northern Trust had assets under
custody/administration of US$14.2 trillion, and assets under
management of US$1.3 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
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/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20231116535195/en/
Europe, Middle East, Africa & Asia-Pacific: Camilla Greene
+44 (0) 20 7982 2176 Camilla_Greene@ntrs.com Simon Ansell + 44 (0)
20 7982 1016 Simon_Ansell@ntrs.com
US & Canada: John O’Connell +1 312 444 2388
John_O’Connell@ntrs.com
http://www.northerntrust.com
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