Northern Trust retained as trustee and custodian for Halifax Regional Municipality Master Trust
Northern Trust has been retained as named trustee and custodian for the Halifax Regional Municipality Master Trust, which includes two pension plans with combined assets of approximately CAD1.35bn.
Northern Trust will provide custody, securities lending, and benefit payment services.
“Northern Trust’s advanced technology gives us access to key data in a variety of report formats and automates our benefit payment system,” says Terri Troy, chief executive officer for the Halifax Regional Municipality Pension Plan. “Northern Trust’s online payment system allows us to pay invoices and transfer cash between accounts on a more timely and accurate basis. We can also quickly and efficiently analyse various components of our portfolio, which aids us in the investment decision making process.”
Arti Sharma, president and chief executive officer of Northern Trust, Canada, says: “We are extremely pleased that we will continue to be able to work with such a well-respected institution. Our dedication to making client data both safe and accessible, in addition to personalised service, will help support plan participants and lead to continued success in the Canadian market.”
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