Northern Trust has been reappointed by the BT Pension Scheme (BTPS) and its fiduciary manager Brightwell to provide global custody, investment operations outsourcing and derivatives outsourcing, according to the bank.
The mandates cover both organisations under an integrated service model. Northern Trust has provided services to BTPS for more than 18 years and to Brightwell for eight years.
Brightwell chief investment officer Wyn Francis said a market review found Northern Trust had “strong alignment” with the organisation’s strategic priorities, citing its global custody network and investment operations outsourcing capabilities.
Northern Trust’s Laurence Everitt said the extension “builds on our long-standing relationships with both organisations”. He added that the bank’s understanding of the two organisations’ “distinct yet connected needs” supports their requirements.
BTPS is a defined benefit pension scheme serving employees, former employees and dependants of BT Group and related companies. Brightwell is the scheme’s sole fiduciary manager.
