Northern Trust wins E13.1bn Halifax custody

UK – Northern Trust says it has won been awarded custody of Halifax Financial Services’ 8.6 billion-pound (13.1 billion-euro) fund range.

Chicago-based Northern Trust said in a release that it has been appointed as custodian for Halifax’s range of OEIC, or open-ended investment company, funds.

Halifax, part of HBOS, operates 14 OEIC funds. “We are delighted to extend our relationship with the HBOS group,” said Toby Glaysher, senior vice president of global fund services at Northern Trust. “Their continued trust in our services is a further endorsement of our products and client servicing approach.”

Northern Trust said the transition of assets took place in February of this year. “We look forward to working closely with Northern Trust as the relationship develops in the future,” said Graham Horn, HBOS Financial Services’ head of contract management.

Meanwhile, Northern also said it has selected Baillie Gifford to run a 110 million-pound UK equity growth portfolio on its Dublin-based manager of managers platform. Andrew Strathdee will be lead manager for the brief.

The other managers in the fund are Mirabaud, Alliance Bernstein and SG Asset Management.

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