Northern Trust forms alliance with BlackRock as part of Whole Office strategy
Northern Trust has entered into a strategic alliance with BlackRock to deliver enhanced operations, data, and servicing capabilities to mutual clients.
These new capabilities, delivered through Aladdin, BlackRock’s investment management and operations platform, provide clients with increased efficiency, interoperability and transparency across the back, middle and front office.
The relationship with BlackRock currently supports mutual clients and is an extension of Northern Trust Whole Office, an approach that integrates Northern Trust’s global asset servicing platform with innovative partners, facilitating client access to new technologies, services and solutions.
“Our Whole Office ecosystem delivers global asset owners and asset managers scale, efficiency, flexibility and optionality, ultimately enabling more informed investment decision making,” says Pete Cherecwich, President of Corporate & Institutional Services at Northern Trust. “We have a long-standing relationship with BlackRock and are excited to be working with them as part of our Whole Office strategy. The alliance connects Northern Trust’s fund accounting, fund administration, asset servicing, and middle office capabilities to BlackRock’s Aladdin platform, creating greater connectivity between asset manager and asset servicer.”
“The current climate has once again demonstrated the importance of data symmetry and streamlining communication across the investment lifecycle from the asset manager to the asset servicer,” says Rob Goldstein, BlackRock's Chief Operating Officer and head of BlackRock Solutions. “BlackRock and Northern Trust are committed to providing increased transparency, accuracy and operating model flexibility for our mutual clients, leveraging our joint capabilities through Aladdin Provider.”
The alliance with BlackRock builds on a series of Northern Trust partnerships and strategic investments to provide solutions that span the investment lifecycle, including:
• Outsourced trade execution for asset managers and owners, and a digital and service platform for global asset allocators
• Currency management and FX algorithmic trading
• Integration with industry trading platforms
• Collateral optimisation, risk analytics and digital innovation for asset servicing
“We are following a very clear strategic pathway. We will continue to enhance our capabilities and add future functionality through a combination of buy, build or partner with best-in-class providers to benefit our global asset manager and asset owner clients,” says Cherecwich. “Whole Office is about serving our clients’ needs across the entire investment lifecycle. We are offering a best of all worlds proposition: we don’t need to own every underlying technology or capability. We embrace the integration of partner technology solutions and services with Northern Trust’s proprietary infrastructure to help our clients drive their businesses and ultimately optimise performance.”
Northern Trust Whole Office is an advanced open architecture, multi-asset class solution serving diverse market participants including asset managers, asset owners, investors and third party administrators. By integrating proprietary architecture with innovative partners, Northern Trust Whole Office facilitates client access to new technologies and capabilities across the spectrum of Strategy and Trading, Operational, Data and Digital and Analytics solutions.