Northern Trust appointed to $1.6bn US retirement plan
US - The Federated City Employees' Retirement System of San Jose, California, has appointed Northern Trust to provide global custody, securities lending, performance measurement and risk management services to its US$1.6bn retirement plan.
Plan assets transitioned on 3 January, 2006.
Donna Busse, investment officer for the Federated City ERS of San Jose, said Northern Trust had been selected because of its technology platform, and its analytics and performance reporting mechanism.
Griff Ehrenstrom, senior vice president and head of North American sales at Northern Trust said the company looked forward to continued growth in the public fund marketplace.
As of 30 September 2005 Northern Trust had assets under custody of $2.8trn, and assets under investment management of $607bn.
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