Border to Coast has announced the appointment of Northern Trust as its third party administrator and depositary following a robust and in depth public procurement process run during the second half of 2017. Northern Trust and Border to Coast will work in partnership to develop an operating model for pooling the assets of the twelve partner funds.
Fiona Miller, Chief Operating Officer of Border to Coast, said “I am excited to start the next stage of the journey for Border to Coast, working alongside Northern Trust as we build out the infrastructure which will support our organisation both now and into the future. Through their long-term partnership with the LGPS and extensive expertise in ACS structures, Northern Trust’s understanding of our needs and the culture we want to build make them a natural partner for Border to Coast.”
“Northern Trust is delighted to be appointed by Border to Coast underlining our continued commitment to local government pension schemes,” said James Wright, head of Northern Trust’s Institutional Investor Group for the UK and Middle East. “We are committed and excited to support Border to Coast through their establishment and ongoing growth. Our tax transparent fund experience, alongside our dedicated UK pension team and proven technology ensures we are well placed to support Border to Coast’s unique requirements.”
Chris Hitchen, Border to Coast Chair, added “Our Board is delighted with the progress being made. Northern Trust is one of a number of important business partner appointments now coming through. Our CEO Rachel Elwell is gathering an excellent team around her, and I am confident we are building a highly capable investing institution.”
Notes to Editors:
Border to Coast will invest the assets of the Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne and Wear and Warwickshire LGPS pension funds totalling £43 billion. It is based in Leeds. Further details can be found at our website: https://bordertocoast.ibexcreative.com/
For more information: Rachel Elwell – Chief Executive Officer, Border to Coast Pensions Partnership Ltd.