US-based Northern Trust has been reappointed by Lancashire County Pension Fund to provide custody and performance measurement services to the £11.5 billion (approximately US$14.6 billion) fund.
Northern Trust has held the asset servicing mandate continuously since 2011 but has been unable to confirm the length of the extension, though most likely to be for a three to five year period.
A UK Local Government Pension Scheme (LGPS), Lancashire County Pension Fund provides retirement benefits to approximately 189,000 employees and over 300 employers in the public sector across the county of Lancashire in north-west England.
“We are delighted that Lancashire County Pension Fund renewed our 13-year partnership” said James Wright, head of asset owners for Emea at Northern Trust.
“This re-appointment underscores our unwavering commitment to the LGPS sector and our role as a strategic partner to the LGPS community.”
Northern Trust’s asset owner business provides custody services to over 370 clients with collectively US$3.01 trillion in assets under custody across Emea, as of 31 May 2024.
