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Scottish Borders Council appoints Northern Trust for GBP550m mandate

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Northern Trust has been appointed by Scottish Borders Council to provide global custody, accounting, performance measurement, cash management and foreign exchange services for its GBP550 million (USD700 million) in pension fund assets.

This is the 12th appointment for Northern Trust under the Local Government Pension Schemes (LGPS) National Framework Agreement (NFA).
 
“Northern Trust demonstrated its ability to provide solutions tailored to our specific needs, for example meeting our future accounting requirements,” says Councillor Bill White, chair of pension fund committee, Scottish Borders Council. “Combined with their leading expertise and experience across the LGPS, this was a key factor in their appointment.”
 
“At Northern Trust, we are absolutely focused on supporting local government pension schemes,” says Penelope Biggs (pictured), head of the institutional group at Northern Trust. “We worked closely with Scottish Borders Council to ensure we delivered a customised solution that meets their evolving needs and helps drive operational and financial efficiencies for the fund.”
 
Northern Trust has an ongoing commitment to all LGPS. Its Institutional Investor group currently supports 35 per cent of the top 100 UK pension schemes, ranging from GBP450 million to GBP16 billion in assets, including eight of the 11 Scottish LGPS. Its dedicated programme of educational workshops and thought leadership is central to supporting its LGPS clients as they work through the latest developments impacting the industry.

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