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Northern Trust appointed to House of Fraser pension scheme

House of Fraser storeNorthern Trust has won the contract from The House of Fraser Beatties & Jenners Pension Scheme to provide global custody and valuation reporting services.

The mandate is for the scheme’s defined benefit pension plan.

House of Fraser’s scheme has £800 million (€930 million) of assets and provides income for around 10,000 members across the UK.

Suzanne Willshire, trustee director at the scheme, said: “Appointing Northern Trust as our global custodian and asset servicer provides us with the safekeeping and transparency we require for our day-to-day business.”

Northern Trust said it has over 260 UK pension funds as asset servicing clients.

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