Northern Trust Selected as Global Custodian for The World Bank Treasury Investment Management Business
June 10 2019 - 10:00AM
Business Wire
Northern Trust, a leading provider of asset servicing solutions
to the global institutional investor industry, announced that it
has signed custody agreements with The World Bank Treasury to
provide global custody and related services for its investment
management business.
The World Bank Group has two goals that drive its work in
developing countries. The first is to end extreme poverty by 2030.
The second is to boost shared prosperity by fostering the income
growth of the bottom 40 percent of the population in the countries
in which the Bank works.
Additionally, The World Bank Treasury as part of its development
mission provides capacity building to sovereign entities in
portfolio and risk management, and middle/back-office functions,
among other functions.
“We are deeply honored to support the objectives of the World
Bank and its investment management operations as an asset servicing
partner,” said Pete Cherecwich, President of Corporate and
Institutional Services at Northern Trust. “It is our distinct
privilege to deliver a range of innovative asset servicing and
global market capabilities to the Bank. We work in strategic
partnership with our clients to assist them in their growth
initiatives and to create efficiencies with asset servicing skill
and technology. The World Bank is an excellent example of our
commitment to this market segment, including international
organizations, sovereign wealth funds, and central bank and
monetary authorities.”
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 20 U.S. states and Washington, D.C., and across 23
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2018, Northern Trust had assets under
custody/administration of US$10.1 trillion, and assets under
management of US$1.1 trillion. For more than 125 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit
northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at http://www.northerntrust.com/disclosures.
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Media ContactsEurope, Middle East,
Africa & Asia-Pacific:Camilla Greene+44 (0) 20 7982
2176Camilla_Greene@ntrs.comUS & Canada:John O’Connell+1 312 444
2388John_O'Connell@ntrs.comhttp://www.northerntrust.com
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