Wilmington Trust Selects Northern Trust for Custody and Administration of CIT Funds
Posted on 06/14/2022
Northern Trust Corporation (Nasdaq: NTRS) has been selected by Wilmington Trust, N.A. to provide custody, fund accounting, fund administration, fund-of-fund administration, and transfer agency services for Collective Investment Trust (CIT) funds with approximately US$ 90 billion in total balances as of April 28, 2022.
Wilmington Trust is under the banner of M&T Bank (NYSE: MTB). Northern Trust’s Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing, capital markets, and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.
Wilmington Trust, N.A. works in the CIT market with US$ 90 billion in total balances across funds managed by more than 60 subadvisors and available on more than 50 trading platforms as of April 28, 2022.
