Driehaus Capital Management Expands Relationship With Northern Trust With Appointment as Fund Administrator for Driehaus Mutual Funds
Northern Trust (Nasdaq: NTRS) has extended its partnership with Driehaus Capital Management, enhancing services including fund accounting, administration, transfer agency, and global custody for the Driehaus Mutual Funds. This relationship, initiated in 2009, has been pivotal in consolidating service providers and lowering operational risks, according to Driehaus CFO Bob Kurinsky. Northern Trust aims to continue providing scalable and efficient solutions to support Driehaus's strategic objectives.
- Extended relationship with Driehaus Capital Management enhances service offerings.
- Consolidation of service providers resulted in reduced operational risks and scaled expenses.
- None.
CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today an extension of its long-standing relationship with Driehaus Capital Management and its affiliated family of mutual funds. Through this expanded relationship, Northern Trust will provide fund accounting, fund administration, regulatory administration, transfer agency and global custody services to the Driehaus Mutual Funds.
Northern Trust was appointed in 2009 to provide global custody and related services to Driehaus entities, including the Driehaus Mutual Funds and The Richard H. Driehaus Foundation. Driehaus further expanded Northern Trust’s service mandate due to their long-standing, strong and reliable relationship.
“The top-to-bottom professionalism and industry expertise of the Northern Trust team allowed us to successfully consolidate multiple service provider relationships into a single provider model. Through the combination of administration, fund accounting, transfer agency and custody with Northern Trust, we were able to reduce operational risk and further scale expenses to the benefit of our shareholders,” said Bob Kurinsky, Chief Operating & Financial Officer of Driehaus Capital Management and Treasurer of the Driehaus Mutual Funds.
“We appreciate our long-standing relationship with Driehaus and look forward to continuing to partner with them to help achieve their strategic goals,” said Ryan Burns, Head of Global Fund Services, Americas at Northern Trust. “As a fund services provider, we support the asset manager’s whole office by delivering scale, efficiency, and flexibility across the investment lifecycle. Our aim is to continually build on our support, and to grow along with our clients.”
Northern Trust’s Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing, capital markets and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.
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 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2020, Northern Trust had assets under custody/administration of US
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
