August 31, 2005
Baer Investments Limited and Northern Trust expand Outsourcing Agreement
A PRNewswire press release of August 24 reports that Julius Baer Investments Limited (JBIL) and Northern Trust, a provider of global custody, asset administration, and investment management services, have now expanded their partnership. Under the new agreement, which is likely to be fructified by the end of 2005, Northern Trust will provide a whole gamut of services to JBIL including trade matching, confirmation and settlement, investment record keeping, entitlement processing, pricing, asset set-up, reconciliation, client reporting, valuations and performance analysis.
The senior management of both JBIL and Northern Trust expressed confidence in the relationship. Michael Allen, Senior Manager (Operations) at JBIL, expects Northern Trust to deliver the same quality of service as before. Camie West, Vice President and Relationship Manager at Northern Trust, is also confident that his company will be able to meet the requirements of their client. PRNewswire quotes Camie West:
We'll be working with JBIL to transfer its operations onto our market leading, single, global technology platform—which also supports Julius Baer's investment operations in New York—at the earliest opportunity.
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