Border To Coast Pensions Partnership Limited Reappoints Northern Trust as its Asset Servicing Provider
29 February 2024 - 9:14PM
Business Wire
Northern Trust (Nasdaq: NTRS) today announced it has been
re-appointed by Border To Coast Pensions Partnership Limited
(Border To Coast) to provide a range of asset servicing solutions
spanning fund administration, custody, brokerage, securities
lending and depositary services.
Established as a regulated asset manager in 2018, Border To
Coast has grown to be one of the largest pension pools in the
United Kingdom. Owned by 11 Local Government Pension Scheme (LGPS)
funds with £60bn of investments, the partnership was created to
pool the investments of the Partner Funds which are collectively
responsible for more than 1.1 million LGPS members.
Fiona Miller, Deputy Chief Executive Officer at Border To
Coast Pensions Partnership Limited comments: “Northern Trust
has been instrumental in supporting our growth through the
extension of services into more innovative asset classes, and
continues to deliver change whilst maintaining high integrity on
daily delivery. Their reappointment is a reflection of the strong
relationship we have built, and our confidence in their ability to
support our growth over the next five years.”
“We are delighted to continue our collaborative relationship
with Border To Coast,” said James Wright, Head of Asset Owners,
Europe, Middle East and Africa (EMEA) at Northern Trust. “This
reappointment underscores our unwavering commitment to the LGPS
sector and the wider UK retirement industry. A leading provider in
the sector, we specialise in delivering dynamic, client-centred
solutions to support the evolving needs of our pension fund clients
across their entire organisation.”
Northern Trust’s Asset Owner business provides custody services
to over 370 clients with collectively US$2.2 trillion in assets
under custody across EMEA, as of 31 December 2023. It is focused on
supporting the evolving needs of institutional investors including
pension funds, multinational corporations, insurance companies,
non-for-profit organizations, central banks, sovereign wealth funds
and other inter-governmental agencies.
About Border To Coast Pensions Partnership Limited
Based in Leeds, Border To Coast is one of the largest LGPS pools
in the UK. It is owned by 11 local government pension schemes
(‘Partner Funds’). The Partner Funds represent 2,700 employers and
over a million members. The Partner Funds are Bedfordshire,
Cumbria, Durham, East Riding, Lincolnshire, North Yorkshire, South
Yorkshire, Surrey, Teesside, Tyne and Wear and Warwickshire. Our
Partner Funds have £60bn in investments, of which Border To Coast
is directly responsible for the management of £40.3bn (as of 31
March 2023). We also provide support and advice on a further
£8.2bn, primarily invested in index funds, which sit outside of the
pool. Border to Coast offers its 11 Partner Funds investment
opportunities across equities, fixed income, private markets, and
global real estate. UK real estate is under development.
Border To Coast Pensions Partnership Ltd is authorised and
regulated by the Financial Conduct Authority. Registered in England
Number: 10795539 and Registered Office: 5th Floor, Toronto Square,
Toronto Street, Leeds, LS1 2HJ.
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 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of December 31, 2023, Northern Trust had assets under
custody/administration of US$15.4 trillion, and assets under
management of US$1.4 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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Camilla_Greene@ntrs.com US & Canada: John O’Connell +1 312 444
2388 John_O’Connell@ntrs.com http://www.northerntrust.com
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