The Dyfed Pension Fund has selected Northern Trust for its $2 billion in pension fund assets. The investment management provider will offer global custody and investment accounting services for the pension portfolio, administrated by the Carmarthenshire County Council.
The council, which was seeking to expand the services it received from its custodian, hired Northern Trust after a competitive tender. Northern Trust has grown the part of its custody business servicing U.K. local government pension schemes with the addition of $10 billion in new client assets in 2010.
Click here for the release from Business Wire.