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Northern Trust wins USD1bn mandate for Independent Franchise Partners

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Northern Trust has been selected to provide investment operations outsourcing services for over USD1bn in assets for London based investment management start-up Independent Franchise Partners.

As part of the mandate, Northern Trust will provide custody, trade services, fund accounting, transfer agency, performance measurement and client reporting.

"We were impressed by Northern Trust’s ability to build and rapidly implement a flexible, yet robust platform which not only enabled us to meet an aggressive launch date, but also supported the diversity of our client base and accommodated our rapid growth," says John Kelly-Jones, chief operating officer at IFP.

"At Northern Trust we pride ourselves on being a business enabler for our outsource clients," adds Toby Glaysher, head of Northern Trust’s UK global fund services business. "Independent Franchise Partners was looking at one of the shortest launch periods we have seen in the industry – from appointment to migration in 72 days. Our ability to get our clients and their products to market quickly is a key differentiator for us."

Independent Franchise Partners is an employee-owned investment management firm which focuses on a select universe of publicly-listed companies and is available as a global or a US equity strategy.

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