Northern Trust completes acquisition

5 October 2017
| By Oksana Patron |
image
image
expand image

Northern Trust has announced the closing of its acquisition of UBS Asset Management’s fund administration units in Luxembourg and Switzerland.

According to the company, the acquisition will position it as a leading administrator by assets in Switzerland and a top 10 asset servicing provider in Luxembourg.

Northern Trust’s president, Europe, Middle East and Africa region, Teresa Parker, said: “We are pleased to announce the completion of our acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.

“The acquisition is a cornerstone of our strategic expansion plan for continental Europe and represents a significant opportunity to broaden our scale, capabilities, products and market reach across Europe, enabling us to further enhance our services to existing and future clients and strengthening our position as a leader in the region.”

Northern Trust, which opened its office in Luxembourg in 2004, first announced its intention to acquire the UBS fund administration servicing units in February 2017.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 2 weeks ago
Kevin Gorman

Super director remuneration ...

10 months 3 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 3 weeks ago

The central bank has served up a disappointment for punters on Melbourne Cup Day....

2 hours ago

The fund’s inaugural chief retirement officer is looking to establish a new venture. ...

7 hours ago

The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update....

1 day ago