Generation Life, an Australian life insurance company, has chosen Northern Trust to provide global custody and valuation reporting services for its portfolio, valued at AU$1.5 billion as of 31 January. The agreement includes a wide range of assets, such as domestic and international equities, bonds, foreign exchange, and SICAVs, according to a press release.
Based in Melbourne, Generation Life manages over AU$3.8 billion in total funds as of December 31, 2024. The company specialises in tax-effective investment solutions, and the new custody arrangement with Northern Trust will support its diverse portfolio.
Scalability
In making the decision to partner with Northern Trust, Generation Life cited the firm’s strong focus on digital technology and its ability to provide a scalable operating model. Felipe Araujo, CEO of Generation Life, emphasised how Northern Trust’s technology-driven approach aligns with the company’s growth strategy.
For Northern Trust, the partnership represents a continued expansion of its asset servicing business in Australia. The firm has been increasing its footprint in the region, particularly as demand for efficient and technology-based custody services grows among Australian financial institutions.
