Northern Trust Appointed as Custodian for Firefighters’ Retirement System of Louisiana
May 14 2024 - 10:10AM
Business Wire
Northern Trust (Nasdaq: NTRS) announced today that it has been
selected by the Firefighters’ Retirement System (FRS) of Louisiana
to provide asset servicing and data analytics capabilities for the
$2.4 billion (as of 3/31/24) fund.
FRS of Louisiana is a governmental defined benefit pension plan,
established by the state legislature in 1980 to provide retirement
and other benefits for Louisiana firefighters. FRS selected
Northern Trust for its innovative technology and tailored
services.
“Northern Trust is one of the market leaders in supporting the
sophisticated needs of the asset owner community and we are
thrilled to be selected by the Firefighters’ Retirement System of
Louisiana,” said Melanie Pickett, Head of Asset Owners, Americas at
Northern Trust. “Their decision validates our commitment to driving
innovation and excellence in the public fund sector as well as our
focus on growth in the state of Louisiana.”
“As we look to improve operational efficiency in our fund,
Northern Trust’s advanced technology and client-centric culture
differentiated them from the competition and demonstrated that they
were the best choice to help us achieve our goals,” said Michael
Becker, CIO of Firefighters’ Retirement System of Louisiana. “We
look forward to working with Northern Trust as we advance our
mission for the firefighters of our state.”
Northern Trust has had an unwavering commitment to the asset
owner space for many decades. The goal within the asset owner
segment is to empower the missions of its clients, helping them to
maximize investment returns so that they may then serve their
constituents, their communities, and the world.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2024, Northern Trust had assets under
custody/administration of US$16.5 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514444826/en/
Europe, Middle East, Africa & Asia-Pacific: Camilla Greene
+44 20 7982 2176 Camilla_Greene@ntrs.com
US & Canada: John O’Connell +1 312 444 2388
John_O’Connell@ntrs.com
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