Alcatel appoints Northern Trust for pension custody

Pensioner-with-caneThe Alcatel Pension Scheme has given Northern Trust a £700 million custody mandate, citing the “conservative business model” of the custodian as a deal clincher.

Alcatel, a telecommunications company, also gave Northern Trust a performance measurement brief.

“We appointed Northern Trust based on its conservative business model, financial strength, focus on the pensions sector and integrated reporting capability,” said Bill Kear, pensions manager at the fund.

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