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Marks, Spencer

Northern Trust (Nasdaq: NTRS) today announced it has been selected by Marks & Spencer Pension Trust (M&SPT) in the United Kingdom (UK) to provide a range of asset servicing solutions to the M&S Pension Scheme, a defined benefit (DB) pension scheme of which M&SPT is trustee.

12.10.2020 - 10:02:57

Marks & Spencer Pension Trust Selects Northern Trust for Asset Servicing Solutions

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Simon Lee, head of M&SPT and chief investment officer, said: “We require an asset servicing provider able to support the requirements of our broad, complex portfolio of investments and adapt to the scheme’s requirements as we progress through the de-risking journey. By appointing Northern Trust, we knew we were selecting a team and institution with the track record, technical expertise and long-term commitment to do that.”

Mark Austin, head of UK, Institutional Investor Group at Northern Trust, said: “As a committed partner to the retirement industry, we are delighted to support M&SPT in the stewardship of its assets. Northern Trust is focused on helping UK pensions meet the challenges of the market – whether, for example, by enabling transparency over investments, or supporting efforts to de-risk. Ultimately, we share the same objectives – of helping achieve good retirement outcomes for members.”

Northern Trust’s Institutional Investor Group provides services to almost 300 UK pension funds with collectively more than US$884 billion (as at 30 June 2020) in assets under custody. Clients serviced include Defined Contribution master trusts, DB corporate schemes and funds of the UK Local Government Pension Scheme, with assets varying in size from US$20 million to US$60 billion.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2020, Northern Trust had assets under custody/administration of US $12.1 trillion, and assets under management of US $1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for 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 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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@ businesswire.com