Northern Trust has brought its two Dublin-based fund administration offices together under one roof to support its continued business growth, in a move to Georges Court, in central Dublin.
'Northern Trust currently employs over 400 people in Ireland - more than double the number at the start of 2005 as a result of the acquisition of Baring's Financial Services Group last year - and we are now administering over 550 funds from Dublin, with approximately EUR 70 billion (USD 90 billion) in assets under administration,' said Vic Holmes, Managing Director of Northern Trust Ireland. 'Northern Trust has had a presence in Ireland since 1990 and is now one of the largest, fastest growing fund administrators in Ireland with expertise in servicing a broad range of fund types.'
In Ireland, Northern Trust provides the following services:
- Fund administration for hedge funds, private equity funds, property funds, fund of funds in all these asset classes, traditional 'long-only' investment funds and cross border pooling funds
- Investment operations outsourcing for investment managers
- Financial reporting
- Transfer agency
- Corporate secretarial services for traditional, hedge fund, private equity fund and property funds
Holmes added, 'Relocating to Georges Court gives us an opportunity to showcase the quality of Northern Trust's Irish operations and welcome our clients into an outstanding work environment with state of the art technology facilities. Having additional space also means that we can execute on our business plans to continue to expand our team and capabilities in Ireland.'
Background note: Northern Trust Corporation is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multi-bank holding company based in Chicago, has a growing network of 84 offices in 18 US states and has international offices in 12 locations in North America, Europe and the Asia-Pacific region. As of June 30, 2006, Northern Trust had assets under custody of USD 3.2 trillion, and assets under investment management of USD 640 billion.