RCM, the asset management unit of Allianz Global Investors, has hired Northern Trust to manage its investment operations outsourcing. The move is aimed at consolidating RCM’s position as a global asset manager.

As per the agreement, Northern Trust will be managing post-trade execution support, trade processing and settlement, data management, reconciliations, portfolio accounting, client valuations and administration. These will support RCM’s teams in Hong Kong, London and San Francisco.

Click here for the release from Business Wire.