UK - Northern Trust says it has won a £325m (E467m) fund accounting and global custody brief from Brown Shipley’s KBL Investment Funds Ltd. for its Solus funds.
KBL has also appointed Royal Bank of Scotland to provide trustee and depositary services for the Solus funds.
"Our selection by KBL is extremely exciting and a superb endorsement of our team and processes,” said Jeremy Hester, head of global fund services’ business development for Northern Trust.
“We aim to continue the growth we are currently enjoying within our Global Fund Services (GFS) business, which is in line with our strategy to increase the breadth of service capabilities to the UK and European markets in new areas like UK fund accounting,"
“We are delighted to be working with Northern Trust which has a very positive approach towards client service and proven robust processes which are crucial for effective back office administration," added KBL operations director Janet Carey.