UK - Northern Trust has launched a fund accounting service, a move designed to expand their European presence.
The new practice will complement Northern Trust’s existing fund administration capabilities as part of the Global Fund Services (GFS) business in Europe.
Toby Glaysher, head of European GFS Strategy said: “Our entry into the market at this time represents a progressive evolution. We will look to capitalise on the synergies that naturally exist between the custody and fund accounting businesses.”
Northern Trust has hired Gary Hewitt, previously of the Bank of New York, and Sarah Noone, formerly with Smith and Williamson to staff the fund accounting centre.
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