Key Takeaways
- • Northern Trust has been reappointed by the BT Pension Scheme (BTPS) and Brightwell, BTPS's sole fiduciary manager, to provide its asset servicing solutions.
- • The extended mandates cover global custody, investment operations outsourcing, and derivatives outsourcing, delivered through an integrated service model.
- • The relationship spans more than 18 years with BTPS and 8 years with Brightwell, according to Northern Trust.
- • Laurence Everitt, head of global fund services, UK, at Northern Trust Asset Servicing, framed the extension as evidence of the firm's ability to serve both asset owners and asset managers.
Summary
Northern Trust has been reappointed to provide asset servicing solutions to the BT Pension Scheme (BTPS) and Brightwell, the scheme's sole fiduciary manager, according to an announcement reported by Asset Servicing Times. The extended mandates include global custody, investment operations outsourcing, and derivatives outsourcing, which Northern Trust says support the needs of both organisations through an integrated service model.
Laurence Everitt, head of global fund services, UK, at Northern Trust Asset Servicing, said the extension builds on long-standing relationships with both organisations, spanning more than 18 years with the BT Pension Scheme and eight years with Brightwell. He said the mandate reflects Northern Trust's ability to support both asset owners and asset managers through a broad and integrated set of capabilities, underpinned by pension-sector expertise and a focus on client service.
Wyn Francis, chief investment officer of Brightwell, said Northern Trust's global custody network, investment operations capabilities, outsourcing expertise, and continued technology investment provide the scale, resilience, and innovation required to support the distinct but connected needs of BTPS and Brightwell as fiduciary manager.
Other trade publications, including Global Custodian, reported the same reappointment, describing it as covering custody, investment operations and derivatives outsourcing. The announcement does not disclose the financial terms or the assets under custody covered by the mandate.
Laurence Everitt, head of global fund services, UK, at Northern Trust Asset Servicing, said the extension builds on long-standing relationships with both organisations, spanning more than 18 years with the BT Pension Scheme and eight years with Brightwell. He said the mandate reflects Northern Trust's ability to support both asset owners and asset managers through a broad and integrated set of capabilities, underpinned by pension-sector expertise and a focus on client service.
Wyn Francis, chief investment officer of Brightwell, said Northern Trust's global custody network, investment operations capabilities, outsourcing expertise, and continued technology investment provide the scale, resilience, and innovation required to support the distinct but connected needs of BTPS and Brightwell as fiduciary manager.
Other trade publications, including Global Custodian, reported the same reappointment, describing it as covering custody, investment operations and derivatives outsourcing. The announcement does not disclose the financial terms or the assets under custody covered by the mandate.
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