Northern Trust has been appointed to provide a range of asset servicing solutions to the UK’s Coal Pension Trustees Services Limited (CPT). CPT is the in-house executive company owned by the British Coal Staff Superannuation Scheme and the Mineworkers’ Pension Scheme – two closed defined benefit schemes representing members who previously worked in the UK coal industry.
Northern Trust will service combined public and private assets of USD26bn with valuation reporting, performance measurement, securities lending, foreign exchange and global custody services. This includes operational and data solutions to support oversight and governance models, including specialist fund administration and analytics for its private markets portfolio.