Category: Bank Providers

State Street plans to implement a cloud-based, machine learning technology to transform private markets processing and document management. Through State Street’s partnership with Canoe Intelligence, allocators and managers in the private markets sector will have an integrated experience where traditionally onerous and manual alternative investment workflows will be automated and streamlined, reducing processing time and…

Northern Trust has been appointed to provide fund accounting, transfer agency and global custody services to Fundsmith’s Luxembourg-domiciled umbrella, Fundsmith SICAV. Fundsmith SICAV was launched in 2011 and currently has EUR6.4bn (USD7.6bn) AuM. At launch, State Street/IFDS were appointed to provide fund administration, custody and TA to the fund. Headquartered in the UK, Fundsmith has…

Northern Trust reports that its defined contribution (DC) global assets under custody and administration have exceeded USD1trn. Northern Trust has >140 global DC clients, with >USD1.4trn of assets. Clients include 12 of the 50 largest U.S. defined contribution plans as measured by total assets, as well as plans in Australia, the UK, and additional countries…