Covering custody, investment operations, and other services, the outsourcing reappointment comes after an initial agreement in 2005.
Northern Trust has announced it will be reappointed to provide comprehensive operations outsourcing for the asset management business of London-based Generation Investment Management, which was co-founded by Al Gore and David Blood in 2004 with a focus on green business and global sustainability.
The outsourcing agreement, which was first signed in 2005, will see Generation continue to delegate to Northern Trust its custody, investment operations, fund accounting, transfer agency, performance measurement, and client reporting for its funds domiciled in Dublin and Delaware.
"Since initially appointing Northern Trust, Generation has grown significantly. Outsourcing the majority of our operations to Northern Trust enables us to focus on managing our clients' assets and benefit from the company's global expertise and technologies. We are pleased to continue our broad relationship," says Peter Harris, Generation's chief operating officer.
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