US-based custody bank Northern Trust has won a mandate to provide Canada Life Asset Management with asset servicing services including middle office outsourcing, global custody, securities lending, fund administration and depositary services.
Northern Trust’s appointment consolidates the provision of all CLAM middle office solutions with a single service provider and includes the provision of both investment book of record and data solutions.
London-based Canada Life AM manages over £39.6bn across a range of asset classes including fixed income, equities, UK property, and multi-asset solutions.
It is part of Canada Life, which provides insurance and wealth management products and services in Canada, the UK, Isle of Man and Germany.
