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View More Press Releases by Northern Trust

Press release:

Northern Trust's Defined Contribution Servicing On Rise

Issued by: Northern Trust

Date: Feb. 4, 2015

CHICAGO, February 03, 2015 —  New business from large corporate and public retirement plans boosted Northern Trust’s assets under custody for defined contribution plans by nearly 70 percent since 2012 to a total of $305 billion. These additions include three of the 30 largest U.S. defined contribution plans as measured by total assets.

“The growth of our defined contribution business is a testament to our emphasis on retirement servicing,” said David Fox, head of the Americas division for Corporate & Institutional Services. “We put the focus on our clients by offering customized solutions that meet their increasingly complex and evolving needs, and by providing services, such as defined contribution (DC) and defined benefit (DB) plan asset pooling, that benefit plan sponsors and participants.”

TDS, Inc., a diversified telecommunications company based in Chicago, recently selected Northern Trust to provide defined contribution asset servicing support. “TDS selected Northern Trust because we felt that they had the superior systems, staff, expertise and, most importantly, culture to provide TDS the innovation and service needed in meeting our defined contribution custody needs now and into the future,” TDS Assistant Treasurer John Toomey said.   

Defined Contribution Solutions at Northern Trust includes a team of operations, investment and plan design experts guided by a fiduciary heritage that considers the perspectives of both plan sponsors and the ultimate beneficiaries, plan participants. Northern Trust’s asset servicing unit works to provide comprehensive solutions including daily valuation, multi-manager unitization, integration of DB and DC plan operations, and performance measurement. More information may be found at www.northerntrust.com/dcsolutions.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$934.1 billion. For 125 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com and follow us on Twitter @NorthernTrust.

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 http://www.northerntrust.com/disclosures

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View More Press Releases by Northern Trust


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