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Northern Trust wins GBP1.3bn custody mandate for Taylor Wimpey

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Northern Trust has been appointed to provide global custody, investment accounting and performance measurement to approximately GBP1.3bn (USD1.9bn) in UK pension fund assets for housing and development group Taylor Wimpey.

Taylor Wimpey, which was formed through the merger of George Wimpey and Taylor Woodrow in 2007, has homebuilding operations in the UK, North America, Spain and Gibraltar.

"We appointed Northern Trust following a competitive tender process," says Julian Waller, group pensions manager at Taylor Wimpey. "We selected them based on a number of factors. Of key interest to us was Northern Trust’s online client reporting solution, Passport, which was easy to use and helps us administer and report on our investments and actively monitor performance."

"As pension funds face an ever more complex retirement market, we continue to develop solutions that cater to their evolving requirements – such as the demand for detailed performance and reporting data," adds Douglas Gee, UK institutional sales manager for asset servicing at Northern Trust.

Northern Trust currently provides asset servicing and asset management solutions to more than 1000 pension fund clients across the globe, including approximately one third of top 200 pension funds in the UK.

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