Westwood Holdings Group Selects Northern Trust as Outsourced Trading Partner

Rhea-AI Summary

Northern Trust (Nasdaq: NTRS) has partnered with Westwood Holdings Group to deliver outsourced trading services through its Integrated Trading Solutions (ITS). This collaboration aims to enhance Westwood’s trading operations, managing $12 billion in assets. Northern Trust will facilitate equity and fixed income trading as well as middle office trade settlement. The partnership is expected to provide operational flexibility, scalability, and increased transparency in client performance reporting while optimizing costs and risk controls.

Positive

• Collaboration with Westwood Holdings enhances service offerings.
• Outsourced trading expected to improve operational efficiency and transparency.
• Access to Northern Trust's global trading expertise and liquidity.

Negative

• None.

Northern Trust (Nasdaq: NTRS) has been selected by Westwood Holdings Group to provide outsourced trading via its Integrated Trading Solutions (ITS) service. In this role, Northern Trust will assume responsibility for equity and fixed income trading and middle office trade settlement support for the $12 billion (as of Sept. 30, 2020) asset manager.

“We’re excited to provide Integrated Trading Solutions for some of Westwood’s key trading operations,” said Grant Johnsey, Head of Institutional Brokerage, Americas at Northern Trust Capital Markets. “Our capabilities are a great fit for an investment manager like Westwood who is seeking to optimize the entire trade lifecycle, including cost savings, risk controls, and compliance efforts.”

Northern Trust’s outsourced trading capability combines worldwide trading expertise in equities and fixed income across global markets, coverage from multiple trading locations, access to high-quality liquidity, flexible and customizable foreign exchange trading solutions, 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.

“Partnering with Northern Trust to outsource portions of our front- and middle-office operations will provide benefits to both our operations and our clients’ performance reporting,” said Fabian Gomez, chief operating officer at Westwood Holdings Group. “Internally, we gain access to greater flexibility and scalability with our trading operations, as well as the accompanying cost savings. Meanwhile, we can serve our clients better by providing increased transparency into elements like execution, transaction costs, and detailed cost analysis.”

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

About Westwood Holdings Group

Westwood Holdings Group, Inc. is a focused investment management boutique and wealth management firm.

Westwood offers high-conviction equity and outcome-oriented solutions to institutional investors, private wealth clients and financial intermediaries. The firm specializes in two distinct investment capabilities: U.S. Value Equity and Multi-Asset, available through separate accounts, the Westwood Funds® family of mutual funds and other pooled vehicles. Westwood benefits from significant, broad-based employee ownership and trades on the New York Stock Exchange under the symbol “WHG.” Based in Dallas, Westwood also maintains an office in Houston. For more information, please visit westwoodgroup.com.

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 September 30, 2020, Northern Trust had assets under custody/administration of US $13.1 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. Please visit our website or follow us on Twitter.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210111005383/en/

FAQ

What is the significance of Northern Trust's partnership with Westwood Holdings Group?

The partnership allows Northern Trust to provide outsourced trading services for Westwood, aiming to enhance operational efficiency and transparency.

What services will Northern Trust provide to Westwood Holdings Group?

Northern Trust will handle equity and fixed income trading, as well as middle office trade settlement support.

How much in assets does Westwood Holdings Group manage?

As of September 30, 2020, Westwood Holdings Group manages $12 billion in assets.

What are Integrated Trading Solutions offered by Northern Trust?

Integrated Trading Solutions includes comprehensive trading services that optimize cost savings, risk controls, and compliance efforts.

What is Northern Trust's stock symbol?

Northern Trust trades under the stock symbol NTRS on Nasdaq.