Thomson Reuters has launched a benchmarking product to help custodian banks with performance measurement analytics, and Northern Trust has signed up as the first service provider to adopt the indices for its institutional fund servicing clients.
“We recognize the significant challenges to banks and institutional investors in the current environment and believe that our new offering will allow custodians to provide options with more flexibility to their customers while maintaining the same level of quality as comparable products,” stated Steven Carroll, head of indices at Thomson Reuters.
Joe Nardulli, head of the investment risk and analytical services index product at Northern Trust, added that: Across the retirement and fund servicing industries we have seen increased restrictions and costs added to operating models. This new solution helps Northern Trust begin to offer more options for our clients.”
