Northern Trust has successfully migrated the investment operations for asset manager Hermes Fund Managers, to the Northern Trust platform.
With the migration complete, Northern Trust provides a range of back- and middle-office services for portfolios.
During the transition, begun in June 2008, Northern Trust has supported the launch of Hermes' range of Irish domiciled funds, providing trustee, custody, fund accounting and transfer agency services.
The appointment of Northern Trust also included the provision of custody services for the UK's largest pension scheme, the BT Pension Scheme.
Northern Trust provides post-trade operations, fund administration and custody to Hermes, as well as management of over-the-counter property derivatives activities including daily independent valuations for complex IPD (Investment Property Databank) swaps.