Northern Trust has been reappointed by People’s Pension to provide fund administration, global custody, securities lending, and performance measurement, extending a relationship that has been in place since 2018.
People’s Pension is a workplace pension scheme in the UK with 7.2 million members and £45 billion in assets. During its mandate in the past eight years, Northern Trust has helped People’s Pension evolve its investment operating model, including a transition to direct asset ownership and a multi-asset class structure.
Ian Hamilton, head of asset owners, EMEA at Northern Trust said in a statement that the bank has worked closely with People’s Pension to provide “operational scale, governance framework, and specialist expertise” and it will continue to guide the pension scheme through “regulatory reform, consolidation, and increasing investment sophistication”.
