Northern Trust asset arm wins French mandate
FRANCE/LUXEMBOURG – Northern Trust’s asset management arm, Northern Trust Global Investments, has won its first mandate in the French market.
Groupama, French insurer, has appointed Northern Trust Global Investments (NTGI) as advisor for US equity mandates for its asset management arm, Groupama Asset Management in Paris.
Northern Trust Investment Inc. will advise on the mandates which total 300 million dollars in large cap and mid cap assets at present, although this figure is expected to grow as money continues to flow in.
Steve Potter, president of Northern Trust Global Investments explains that, in its role, NTGI will be “leveraging research from the US equities portfolio”. John Leo in the US is heading up the US equity portfolio management team.
Vincent Zeller, chief investment officer of Groupama Asset Management put NTGI’s win down to its “skill and professionalism”.
Northern Trust’s investment subsidiary manages around 300 billion dollars worldwide. Other European financial organisations with which it has partnerships are Helaba Invest KAG in Germany and Mediolanum in Italy.