Northern Trust helps AMF become one of the first occupational pension providers in Sweden under the European IORP II Directive

STOCKHOLM–(BUSINESS WIRE)–Northern Trust (Nasdaq: NTRS) is pleased to have supported AMF Tjänstepension AB (formerly AMF Pensionsförsäkring AB) on its transformational journey to become one of the first occupational pension providers in Sweden under the European Pension Institutions (IORP) Directive II.

IRP II aims to improve the governance and reporting standards of occupational pension schemes. The implementation of the Directive has required significant changes and improvements to the business models of pension fund providers covering risk management, governance and communications with members.

Christoffer Axelsson, Deputy CEO of the AMF, comments: “Our vision has always been clear: to offer the best retirement prospects to our clients. Our decision to become an occupational pension provider positions us well for the future, along with the decision to merge our asset management and administration units into a new single business entity. This required substantial changes to our business model, and a resulting transfer of assets. Throughout this organizational change, we have relied on the support of Northern Trust, with whom we have developed a deep relationship spanning two decades. Their local market expertise, technical capabilities and collaborative solution-focused approach helped us achieve our goal. »

“Northern Trust has served institutions in the Nordic region since 1991,” said Bo Thulin, director of Northern Trust in the Nordic countries. “As a long-standing partner in the pension and insurance industry, we bring significant experience and a solutions-oriented mindset to support our clients through organizational and regulatory change. We are proud of our relationship with the AMF, to whom we have provided asset management solutions since 2003, and we welcome the opportunity to support them on their journey to deliver the best possible retirement outcomes to affiliates of retirement plans.

Northern Trust’s group of institutional investors provides services to over 330 clients with collectively over $2.54 trillion (as of December 31, 2021) in assets under custody across Europe, the Middle East and Africa (EMEA). ). It focuses on supporting the evolving front and back office needs of pension funds, insurance companies, non-profit organizations, central banks and sovereign wealth funds and other intergovernmental agencies in the EMEA region.

Northern Trust has been serving clients in the Nordic region since 1991 and opened an office in Stockholm in 2009, followed by an office in Oslo in 2021. Today, it makes it easier for clients to access services, solutions and new technologies while throughout the investment life cycle, from global custody. securities lending, foreign exchange, outsourced trade execution and middle office services, as well as asset management solutions through Northern Trust Asset Management for some of the most sophisticated institutional investors in the region Nordic.

About the AMF

With SEK 800 billion in assets for approximately 4 million customers, AMF is one of Sweden’s leading pension companies and one of the largest owners of Nasdaq OMX Nordic Stockholm. AMF is equally owned by the Swedish Trade Union Confederation (LO) and the Confederation of Swedish Business and operates on mutual principles, which means that all profits are returned to customers.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2021, Northern Trust had assets under custody/administration of US$16.2 trillion and assets under management of US$1.6 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Please read our global and regulatory information.