RCM has selected Northern Trust to handle its middle-office functions in Asia-Pacific, Europe and North America on Northern Trust’s global operations platform. Services to be provided include post-trade execution support, trade processing and settlement, data management, reconciliations, portfolio accounting, client valuations and administration.
“This innovative agreement supports RCM’s strategy as a truly global asset management firm, operating on multiple continents across six time zones to offer a range of investment solutions,” said Peter Cherecwich, head of global fund services at Northern Trust. “We worked closely with RCM to understand their business priorities and demonstrated our capability to deliver middle-office services efficiently and consistently by leveraging our global technology architecture and operations expertise in markets around the world.”
Michael Hooper, chairman of RCM’s global operations group, added: “We selected Northern Trust to leverage the strength of its global operating model, which provides RCM with a platform for strategic growth while we continue to focus on investment excellence. We believe this agreement will strengthen our regional trading while providing a true ‘pass-the-book’ capability to support our global operations.”