Northern Trust announced that it has been appointed by Abu Dhabi Pension Fund (ADPF) (effective 1 January 2024) to provide a suite of services, including global custody, alternative asset administration through Front Office Solutions, liquidity solutions, performance and risk analytics, and compliance monitoring.

Abu Dhabi Pension Fund (ADPF) is a growing pool of sovereign sponsored pension assets in the Middle East. Tasked with managing contributions, pensions and end-of-service benefits for United Arab Emirates (UAE) nationals affiliated with the government and private sectors in Abu Dhabi, the ADPF also extends its services to the retirees and their beneficiaries. Its commitment lies in offering value-added services to clients and ensuring the efficiency of its investment strategy.

Northern Trust was selected by ADPF because of its asset servicing expertise specifically designed for complex asset owners, its commitment to the region and solutioning that aggregates accounting, reporting and analytics across both public and private assets. Abu Dhabi Pension Fund will engage Northern Trust’s data aggregation and customer relations management (CRM) capabilities, available through its Front Office Solutions offering, to aid them in investment allocation, liquidity management and portfolio optimization.

James Wright, head of Asset Owners, EMEA at Northern Trust, commented, “We are delighted that Abu Dhabi Pension Fund has appointed us as their global custodian. As a leading provider in the region with more than 35 years of experience in servicing clients in the Middle East, we are excited to continue to grow in the market and are committed to delivering client-centred solutions to large, complex asset owners.”

Ali Alqemzi, Chief Operating Officer for Investment at Abu Dhabi Pension Fund, remarked, “Northern Trust stood out due to their focus on asset owners, particularly those with sophisticated allocations across public and private assets. Their ability to adapt to the evolving financial landscape, as evidenced by their investment in technology and development of solutions that are targeted to funds such as ourselves, is important to us as we grow, and our asset allocation needs evolve.”

With more than 1,800 global asset owner clients across sovereign wealth funds, corporations, not-for-profits, public funds, insurance companies, and central banks, Northern Trust has an unwavering commitment to support the increasingly sophisticated needs of complex asset owners and allocators.

Source: Northern Trust