Magazine article Global Finance

Custody Buyer's Guide: Northern Trust

Magazine article Global Finance

Custody Buyer's Guide: Northern Trust

Article excerpt


Northern Trust

Custody Assets: 2000:$1.7 trillion;1999:$1.5 trillion.

Ratings: Moody's:Aa3; S&P:AA-; Fitch IBCA:AA.

Client Profile: By location: Clients are domiciled in 37 countries. By investor

type: Pensions: 47%; Central Banks/Governments/Monetary Authority: 29%;

Funds: 11%; Other: 13%. Foreign: 299; Domestic: 904.

Capabilities/Services: Northern Trust offers clients a full range of core and value-added. Summary of services provided: Settling trades and safekeeping assets in 90 markets; foreign exchange; cash management capabilities; income collection; tax Reclamation; contractual settlement; corporate actions; securities lending; reporting in both base and local currencies; performance measurement.Top Emerging Markets: Based on the total assets under custody in Northern Trust's subcustodian network, top holdings in the emerging markets include: South Korea, South Africa, Portugal,Taiwan, Brazil, Malaysia, Greece.

Business Developments: Northern Trust continues to focus on four areas of ongoing development: stability of our systems; availability of information; compliance with regulatory requirements; productivity of our operations. Each year multiple initiatives are undertaken to maintain the highest level of system stability, availability, and productivity. Regulatory requirements. In 2000 two of the largest enhancements to our system for regulatory purposes were the improvement in our Canadian regulatory reporting package and the implementation of the US NoResident Alien tax withholding regulation. …

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