Northern Trust (Nasdaq: NTRS) is expanding the global presence of its Front Office Solutions (FOS) business with the addition of new clients in the EMEA (Europe, Middle East and Africa) region.
Globally, FOS has nearly $500B in assets under administration as of July 2023. The growth into EMEA capitalizes “on strong momentum achieved by FOS in serving the data and operations needs of sophisticated, multi-asset class institutional investors in the United States.”
As large institutional asset owners evolve to support their operational processes with advanced technology, they increasingly “seek platforms that can deliver a broad range of functionality across the entire investment lifecycle.”
FOS was developed to address the challenges of disparate data sources and manual processes for investment teams. The offering provides “a full suite of portfolio analytics, investment analysis, performance measurement and research management tools to empower asset owners to view the bigger picture and break down artificial silos between their front, middle, and back-office functions.”
John Turney, Global Head of Front Office Solutions at Northern Trust, said:
“After significant growth in the U.S. market, we see strong interest among asset owners in EMEA for our Front Office Solutions platform. We have expanded Front Office Solutions to investors in the UK, the Netherlands, the Nordics, the United Arab Emirates and the Kingdom of Saudi Arabia, with plans for further expansion. We are able to leverage Northern Trust’s existing global footprint as well as the depth of our expertise supporting institutional investors to service the EMEA market.”
FOS has recently been selected by three organizations in EMEA with approximately $75B in assets, “ranging from an asset manager to a university endowment and a pension fund.”
The range of client types engaging with FOS indicates its versatility and “ability to provide tailored solutions that meet the specific needs of investment teams.”
James Wright, Head of Asset Owners, EMEA at Northern Trust, said:
“We are thrilled to announce our recent success in securing new clients on a global scale. With this offering, we support our clients’ need for access to richer and more timely, granular information on their investments. As FOS continues to grow globally, it is a testament to the increasing demand for our innovative offerings.”
In addition to addressing the technology challenges associated with diverse asset classes, FOS delivers “a high-touch service model to provide asset owners a high degree of confidence in their data quality.”
Further, a dedicated implementation team allows “for a seamless onboarding experience to process clients’ historical data.”
Front Office Solutions offers an integrated, cloud-based investment lifecycle platform that enables investment offices “to view and analyze portfolio and investment information across all asset classes in a unified framework.”
It serves complex asset owners “including foundations, endowments, family offices, pensions and outsourced chief investment officers (OCIOs) with the data they need, in the format they need it, enabling them to make informed decisions and optimise performance.”