QIC Taps Northern Trust For Middle Office
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QIC has signed an investment operations outsourcing agreement with Northern Trust. Northern Trust will provide the Melbourne-based firm with unit pricing, registry, trade services, reconciliations, investment accounting, performance and risk analytics, post-trade compliance monitoring, client reporting, fee administration and billing.
"Outsourcing middle-office services will give QIC a flexible and scalable operational platform to support our local and global investment management activities," says QIC CEO Doug McTaggart. "We chose Northern Trust because of their depth and breadth of expertise in middle-office services and their ability to deliver what QIC is looking for."
QIC, which is one of Australia's largest asset managers with $55.9 billion under management, will continue to use NAB Asset Servicing for back-office services.
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