Northern Trust wins Canadian mandate

Date: Friday, November 21, 2008
Author: ICFA

Northern Trust has been named trustee and custodian for the Halifax Regional Municipality Master Trust ('HRM'), which includes two pension plans with combined assets of approximately C$1 billion. Northern Trust will provide custody and benefit payments.

Terri Troy, Chief Executive Officer for HRM, said that throughout the custodian review process, she was impressed with Northern Trust's strong technology capabilities and focus on client service. "We are very pleased with our decision to partner with Northern Trust and feel that there is a good cultural fit," she said.

"We look forward to working with an industry leader such as HRM," said Robert Baillie, president and chief executive officer of Northern Trust, Canada. "It is a highly regarded fund in the Maritimes region and we expect that this appointment, combined with Northern Trust's reputation for unrivaled client service, will create a significant advantage as we seek to expand our presence in Canada."