US custodian bank Northern Trust Corporation has won a mandate to provide fund administration services for Australia’s First Sentier Investors, which manages US$157 billion of assets.
The services include custody, accounting and regulatory reporting.
Northern Trust will integrate front-to-back solutions for First Sentier’s public fund business in Australia, Ireland, Singapore and the UK, the bank says in a statement on December 12.
“Our whole office approach delivers a front-to-back solution that provides First Sentier Investors with a global model for their consolidated book of middle office and funds business, while also helping them streamline processes and increase efficiency across their organisation,” according to Pete Cherecwich, Northern Trust’s chief operating officer.
Chicago-based Northern Trust has around $17.4 trillion of assets under custody and/or administration.
