Northern Trust Partners with Platinum Asset Management for Growth
Northern Trust, renowned for its comprehensive financial services, has announced a key partnership with Platinum Asset Management to deliver a wide array of asset servicing solutions. This collaboration signifies a significant step forward for both companies as they aim to enhance operational efficiencies while catering to the diverse needs of investors.
Who is Platinum Asset Management?
Platinum Asset Management, established in 1994, is an Australian investment manager that has garnered a reputation for its focus on global equities. Managing approximately AU$11 billion in assets, Platinum employs a thematic stock-picking approach aimed at generating strong returns for its clients over the long term. The firm prides itself on its unique investment philosophy and its unwavering commitment to delivering value.
What Services Will Northern Trust Provide?
Under the new mandate, Northern Trust will provide a suite of asset servicing solutions to Platinum Asset Management across their Australian funds. These services include custody, fund administration, regulatory reporting, investment operations outsourcing, ETF administration, and collateral management.
Northern Trust's Commitment to Client-Centric Solutions
The decision by Northern Trust to engage Platinum Asset Management was driven by a shared vision for operational excellence. Leon Stavrou, Country Head for Australia at Northern Trust, expressed enthusiasm about the partnership, noting the firm's “front-to-back” approach that effectively addresses client needs. This holistic strategy positions them to assist Platinum in streamlining operations and focusing on growth.
A Strong Cultural Fit
When Platinum Asset Management made the decision to switch asset servicing providers, multiple factors played a role in selecting Northern Trust. According to Andrew Stannard, Finance Director at Platinum, the consultative approach of Northern Trust resonated well with their team, creating a harmonious alignment between the two organizations.
Advancing Investment Strategies
This partnership is poised to support Platinum's diverse array of investment strategies. Northern Trust brings to the table a robust platform designed to handle complex investment needs across a wide spectrum of asset classes. Their global custody and administration services further enhance operational efficiency for their clients.
About Northern Trust
Northern Trust Corporation is a leader in wealth management, asset servicing, asset management, and banking for various clients, including corporations, institutions, affluent families, and individuals. With a rich history dating back to 1889 in Chicago, Northern Trust has developed a global footprint, operating offices in 24 U.S. states, Washington, D.C., and 22 locations across Canada, Europe, the Middle East, and the Asia-Pacific region. As of the last reporting period, Northern Trust administered US$17.4 trillion in assets.
Building a Future Together
The relationship between Northern Trust and Platinum Asset Management signifies a deeper commitment to catering to evolving market dynamics. Their partnership is strategically positioned to navigate the complexities of the financial landscape while enhancing the clients' experience and investment outcomes.
Frequently Asked Questions
What is the main purpose of the partnership between Northern Trust and Platinum Asset Management?
The partnership aims to enhance asset servicing solutions for Platinum Asset Management's Australian funds, providing a range of services that improve operational efficiencies and investment strategies.
What services will Northern Trust provide to Platinum Asset Management?
Northern Trust will offer custody, fund administration, regulatory reporting, investment operations outsourcing, ETF administration, and collateral management services.
Who is Platinum Asset Management?
Platinum Asset Management is an investment manager based in Australia, specializing in global equities and managing approximately AU$11 billion in assets.
How long has Northern Trust been in operation?
Northern Trust was founded in 1889 and has over 135 years of experience in wealth management and asset servicing.
What distinguishes Northern Trust’s approach to client service?
Northern Trust is recognized for its client-centric, consultative approach, which focuses on creating tailored solutions to meet the specific needs of its clients.
