Pendal, a global investment manager with $ 139.2 billion in funds under management, has appointed Northern Trust to administer global custody, fund accounting, financial and regulatory reporting, collateral management and trust services. exchange and middle-office in all its activities.
Previously, Northern Trust was engaged to provide fund administration, regulatory administration, global custody and transfer agency services to Pendal JO’s subsidiary Hambro Capital Management (JOHCM) since inception of its first offering mutual funds in the United States in 2009.
“Northern Trust has been providing high quality service to our US business for over a decade now,” said Nicholas Good, Managing Director of Pendal.
“We have conducted an extensive tendering and due diligence process and as a result we are pleased to continue to develop our partnership with the asset management business of Northern Trust.
“Their extended service offering will allow us to consolidate the number of vendors we have across the company, thereby simplifying our operating platform and standardizing a number of our key processes,” said Mr. Good.
Earlier this month, Pendal confirmed that FUM had doubled to $ 139.2 billion thanks to the acquisition of Thompson, Siegel & Walmsley (TSW) in July.