Northern Trust to Offer Integration with SimCorp as Part of its Whole Office™ Strategy

Rhea-AI Summary

Northern Trust (Nasdaq: NTRS) has partnered with SimCorp to enhance data integration for clients using the SimCorp Dimension platform. This collaboration is part of Northern Trust's Whole Office™ strategy to streamline investment management processes. The integration will automate custody data file exchanges via two methods: direct file delivery and cloud-based Asset Service Hub. This partnership aims to improve data transfer efficiency and meet client demands for technological integration, particularly in the Middle East and Nordics. Northern Trust manages assets totaling $13.6 trillion under custody and $1.2 trillion under management.

Positive

• Partnership with SimCorp enhances data integration for clients using SimCorp Dimension.
• Automation of custody data exchange improves operational efficiency.
• Collaboration aims to better serve clients in the Middle East and Nordics.

Negative

• None.

LONDON & COPENHAGEN--(BUSINESS WIRE)-- As part of its continuing Whole Office™ strategy to serve client needs across the entire investment lifecycle, Northern Trust (Nasdaq: NTRS) has reached an agreement with SimCorp®, a leading provider of Software as a Service (SaaS) investment management solutions, to enable integration for efficient data exchange for clients using the SimCorp Dimension® platform.

Designed to streamline processes, the two companies will automate custody data file exchange for Northern Trust clients via two different methods: direct integration of files which can be delivered to SimCorp, as well as integration with SimCorp’s recently launched cloud-based Asset Service Hub.

By leveraging these direct integration models, mutual clients can benefit from a more standardized data transfer process and choose which methodology best supports their current needs and long-term goals. The interoperability enhances operating model resilience and incorporates new product features from both SimCorp and Northern Trust.

“Through this collaboration, our clients can leverage SimCorp’s state-of-the-art software with pre-established connectivity and Northern Trust’s support for data management,” said James Wright, head of Asset Owners, EMEA at Northern Trust. “With SimCorp’s large presence in the Middle East and Nordics, this alliance will help us better serve our clients in those regions.”

“Our mission is to support our clients’ entire business as a strategic partner, which includes integration with leading third-party providers to help clients design their ideal target operating model,” said Marc Mallett, global head of Platform Strategy at Northern Trust. “By entering this joint agreement with SimCorp, we are answering client demand for technological integration that delivers solutions across our Whole Office™ ecosystem.”

“Digitization of products and services is driving the trend towards data interoperability between companies within the same ecosystem,” said Jaki Walsh, Vice President, Operations & Accounting at SimCorp. “This integration between Northern Trust and SimCorp enables the buy side with plug-and-play access to align with their specific and evolving needs.”

Northern Trust Whole Office™ is an advanced open architecture, multi-asset class solution serving diverse market participants including asset managers, asset owners, investors and third-party administrators. By integrating proprietary architecture with innovative partners, Northern Trust Whole Office facilitates client access to new technologies and capabilities across the spectrum of Strategy and Trading, Operational, Data and Digital and Analytics solutions.

About SimCorp

SimCorp offers industry-leading, integrated investment management solutions.

Our platform and ecosystem, comprising partners, services, and third-party connectivity empowers us to provide 40% of the world’s top 100 financial companies with the efficiency and flexibility needed to succeed.

With over 25 offices around the world, and more than 2,200 employees, we are a truly global, collaborative team that connects every continent and industry seamlessly.

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 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2022, Northern Trust had assets under custody/administration of US$13.6 trillion, and assets under management of US$1.2 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 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.

# # #

View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005499/en/

Northern Trust contacts

Europe, Middle East, Africa & Asia-Pacific:

Camilla Greene

+44 (0) 20 7982 2176

Camilla_Greene@ntrs.com

Marcel Klebba

+ 44 (0) 20 7982 1994

Marcel_Klebba@ntrs.com

US & Canada:

John O’Connell

+1 312 444 2388

John_O’Connell@ntrs.com

SimCorp contact

Søren Rathlou Top

+45 3115 8706

soren.r.top@simcorp.com

Source: Northern Trust

FAQ

What is the new partnership announced by Northern Trust and SimCorp?

Northern Trust has partnered with SimCorp to enhance data integration for clients using the SimCorp Dimension platform.

How will the partnership benefit Northern Trust clients?

Clients will benefit from automated custody data exchanges and enhanced operational efficiency.

What is the significance of the Whole Office™ strategy for Northern Trust?

The Whole Office™ strategy allows Northern Trust to streamline investment management processes across the entire investment lifecycle.

What are the assets under management for Northern Trust as of 2022?

As of December 31, 2022, Northern Trust had $13.6 trillion in assets under custody and $1.2 trillion in assets under management.

Which regions will Northern Trust focus on through this partnership with SimCorp?

The partnership particularly aims to enhance service for clients in the Middle East and Nordics.