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Asset Servicing News | October 30, 2024

Cadent Gas Pension Trustee Limited Appoints Northern Trust as Custodian for its £4.6 Billion Pension Scheme

LONDON, 30 October 2024 – Northern Trust (Nasdaq: NTRS) announced today it has been appointed by Cadent Gas Pension Trustee Limited as custodian for its public and private assets as well as for performance and SORP reporting for its £4.6 billion (approximately US$6 billion) defined benefit scheme (as of 31/03/2024).

Cadent Gas Pension Scheme appointed Northern Trust following a detailed due diligence exercise, managed independently. A key focus was to find an asset servicing partner to support the Scheme through its defined benefit journey.                                                               

“Northern Trust is an industry leader in supporting the needs of the asset owner community and the UK pension sector specifically,” said Ian Hamilton, Head of Asset Owners Europe, Northern Trust. “We are well positioned to help Cadent Gas Pension Scheme with their changing requirements, and we look forward to working collaboratively, helping them reach their goals.”

Northern Trust’s asset owner business provides custody services to more than 370 clients with collectively US$2.8 trillion in assets under custody across Europe, Middle East and Africa, as of 31 August 2024. It is focused on supporting the evolving needs of institutional investors including pension funds, multinational corporations, insurance companies, non-for-profit organisations, central banks, sovereign wealth funds and other inter-governmental agencies.

 

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 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2024, Northern Trust had assets under custody/administration of US$17.4 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

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 https://www.northerntrust.com/terms-and-conditions.