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Magazine Issues » December 2022

2022 Funds Europe Award winners

European Administrator of the Year

Winner – Northern Trust

The North American-based administrator made it three wins in a row in what has traditionally been a popular and competitive category.

Admin of the Year Katharine Morris

The judges were impressed by Northern Trust’s continuing work to digitise the fund administration process and to generate more operational efficiency both internally and for clients. This work included the rollout of Fund Utility, which it calls “a foundational deliverable” in the digitisation of its UK transfer agency operations.

Northern Trust also partnered with a number of fintechs. This includes an agreement struck with Fenergo to accelerate private capital managers’ speed to market, as well as an alliance formed with Finscape to support fund distribution and address the data transparency challenge.

Northern Trust has also developed its crypto fund administration capability by implementing an operating model that can support digital currency assets for an exchange-traded product. The model was first used to support a large manager’s exchange-traded note product in November 2021.

Highly Commended

Citi – The US asset servicer was commended for its focus on enabling greater operational efficiency for clients and its work on automation. This included the development of Client Metrics (a service that provides an on-demand breakdown of asset servicing fees and queries through a dashboard) plus custody oversight and unified reporting, all provided via a dashboard.

Shortlisted

Apex Group – The company has continued to grow organically and via acquisitions to match its “hyper-growth” trajectory of recent years. In the past year the firm’s European client list has grown, with over 2,000 fund entities under administration.

Societe Generale Securities Services – Like many of its peers, SGSS has developed its digital assets capability. Its Funds Alert service offers real-time data on subscriptions and redemptions to enable more accurate cash forecasting.