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Northern Trust Peter Cherecwich

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Ariel Investments selects Northern Trust as mutual fund service provider

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Chicago-based Ariel Investments (Ariel) has selected Northern Trust to provide fund administration, fund accounting, and custody services for its suite of mutual funds with assets of USD4.1 billion as of 31 May, 2016.

“Ariel and Northern Trust are both Chicago institutions with global reach and similar values,” says Merrillyn J Kosier, Executive Vice President, Chief Marketing Officer at Ariel. “Northern Trust’s focus on providing personalised client service and anticipating our needs, while also offering innovative technology and product solutions, was key to our selection. We also appreciate Northern Trust’s commitment to diversity and inclusion, along with the professionalism and engagement of the service team. We are excited to work with Northern Trust as we continue to grow.”

Since its inception in 1983, Ariel Investments has grown from 2 to 88 employees with USD10.5 billion in total assets under management as of May 31, 2016. Headquartered in Chicago with offices in New York and Sydney, Ariel manages six no-load mutual funds. Additionally, Ariel manages separate accounts for corporate, public, union, and non-profit organisations.

“Bringing Ariel onboard speaks to the strength of our mutual fund servicing capabilities, particularly the expertise of our client service team and the emphasis we place on understanding each client’s unique goals,” says Pete Cherecwich (pictured), head of Global Fund Services at Northern Trust. “Northern Trust continues to invest in and proactively craft solutions for mutual fund clients to ensure their current and emerging needs are met. Ariel and Northern Trust have strong roots in Chicago while offering global scale and sophistication. It’s an honour to work with Ariel to support their mutual fund complex.”

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