Northern Trust grew its UK pension assets under custody by more than $72 billion last year, a year-on-year rise of 8.5%.
According to the firm, the increase was driven primarily by new client mandates, and client asset inflows.
The firm’s clients include corporate and local government defined benefit pension schemes and defined contribution master trusts.
The firm provides outsourced services to over 270 UK pension funds with collectively more than $851 billion in assets under custody.
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