Northern Trust Appointed to Provide Integrated Trading Solutions to Waverton Investment Management

Rhea-AI Summary

Northern Trust (Nasdaq: NTRS) has been selected as the sole provider of trading services for Waverton Investment Management, with two of Waverton's traders joining Northern Trust. Waverton, an independent investment manager in the UK, has £9.1 billion in assets under management. This agreement aims to align Waverton's operational structure with plans to expand its product range and investment capabilities.

Selected as Sole Provider of Trading Services, Agreement Also Sees Waverton Traders Join Northern Trust

LONDON--(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) today announces that its Integrated Trading Solutions (ITS) outsourced trading desk is supporting Waverton Investment Management (Waverton), an independent investment manager providing services for private and professional clients.

Based in the United Kingdom, Waverton is an owner-managed investment management firm with offices in London, Edinburgh and Glasgow and £9.1 billion (approximately US$11.6 billion) in assets under management, as of 31 December 2022 (source: 2022 Annual Report).

Serving private investors, charities, financial advisers and institutional investors, Waverton’s aim is to generate inflation-beating returns over the long term, using an active and flexible, multi-asset investment approach through bespoke portfolios or specialist funds.

Northern Trust is supporting the trading of equities, derivatives and fixed income assets as Waverton’s sole provider of trading services. The appointment followed a review by Waverton of its operating model intended to help align its operational structure with plans to expand its product range and investment capabilities. It also resulted in two of its traders – Rene Naya and Sam Tresadern – joining Northern Trust.

Michael Allen, chief operating officer at Waverton, said: “Outsourcing our trading to Northern Trust provides Waverton with access to global markets, high-quality liquidity and operational scale, while also allowing us to continue benefiting from Rene and Sam’s valuable institutional knowledge of our business. In addition to both organisations’ strong service ethos and cultural fit, we are confident this combination delivers the service and operational resilience we require to support our growth aspirations.”

Glenn Poulter, global head of brokerage and ITS at Northern Trust, said: “We are excited to be supporting Waverton’s commitment to client service and focus on growth in our role as its outsourced trading provider. To date, our ITS client base has consisted primarily of institutional asset managers and asset owners, but we see increasing interest in this solution from wealth managers as they look to enhance operating capacity and future-proof their operating models. Our appointment by Waverton is testament to this shift and we look forward to working further with managers across this sector globally.”

Northern Trust’s outsourced trading capability combines worldwide trading expertise in equities, fixed income and exchange traded derivatives across global markets, coverage from multiple trading locations, access to high-quality liquidity and a fully integrated middle and back office service. ITS helps asset owners and asset managers to meaningfully lower costs, reduce risk, manage regulatory compliance, and enhance transparency and operational efficiency.

Northern Trust continually innovates and invests in technology in support of its clients, delivering a differentiated approach to trading that includes ITS, offered through Institutional Brokerage. Both are part of Northern Trust Capital Markets, which also provides foreign exchange, securities lending and transition management services.

About Northern Trust Capital Markets

Northern Trust Capital Markets is comprised of a number of Northern Trust entities that provide trading and execution services on behalf of institutional clients, including foreign exchange, institutional brokerage, securities finance and transition management services. Foreign exchange, securities finance and transition management services are provided by The Northern Trust Company (TNTC) globally, and Northern Trust Global Services SE (NTGS SE) in the European Economic Area (EEA). Institutional Brokerage services including ITS are provided by NTGS SE in the EEA, Northern Trust Securities LLP (NTS LLP) in the rest of EMEA, Northern Trust Securities Australia Pty Ltd (NTSA) in APAC and Northern Trust Securities, Inc. (NTSI) in the United States, member FINRA, SIPC and a subsidiary of Northern Trust Corporation.

For legal and regulatory information about our offices and legal entities, visit northerntrust.com/disclosures.

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 25 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2023, Northern Trust had assets under custody/administration of US$14.2 trillion, and assets under management of US$1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

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 https://www.northerntrust.com/terms-and-conditions.

http://www.northerntrust.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20231214421795/en/

Europe, Middle East, Africa & Asia-Pacific:

Camilla Greene

+44 (0) 20 7982 2176

Camilla_Greene@ntrs.com



Simon Ansell

+44 (0) 20 7982 1016

Simon_Ansell@ntrs.com

US & Canada:

John O’Connell

+1 312 444 2388

John_O’Connell@ntrs.com

Source: Northern Trust

FAQ

What is the agreement between Northern Trust and Waverton Investment Management?

Northern Trust (Nasdaq: NTRS) has been selected as the sole provider of trading services for Waverton Investment Management, with two of Waverton's traders joining Northern Trust. Waverton, an independent investment manager in the UK, has £9.1 billion in assets under management.

What are the services provided by Northern Trust to Waverton?

Northern Trust is supporting the trading of equities, derivatives, and fixed income assets as Waverton’s sole provider of trading services.

What is the aim of Waverton Investment Management?

Waverton's aim is to generate inflation-beating returns over the long term, using an active and flexible, multi-asset investment approach through bespoke portfolios or specialist funds.

What is Northern Trust's outsourced trading capability?

Northern Trust’s outsourced trading capability combines worldwide trading expertise in equities, fixed income, and exchange traded derivatives across global markets, coverage from multiple trading locations, access to high-quality liquidity, and a fully integrated middle and back office service.