Chicago-based Northern Trust said it has been reappointed by Lancashire County Pension Fund to provide custody and performance measurement services to the £11.5 billion fund, as of May 31, 2024.

A Local Government Pension Scheme (LGPS), Lancashire County Pension Fund provides retirement benefits to approximately 189,000 employees and over 300 employers in the public sector across the county.

“We are delighted that Lancashire County Pension Fund renewed our 13-year partnership” said James Wright, Head of Asset Owners, Europe, Middle East and Africa (EMEA) at Northern Trust.

“This re-appointment underscores our unwavering commitment to the LGPS sector and our role as a strategic partner to the LGPS community.

“We have built a deep level of expertise to serve the unique needs of our LGPS clients. We look forward to continuing our collaboration and support to Lancashire County Pension Fund to deliver benefits for their members.”

Sean Greene, Head of Service Pension Fund at Lancashire County Pension Fund, said: “As a leading asset servicing provider to UK pension funds, Northern Trust has a deep understanding of the LGPS sector, our scheme and more importantly our people.

“Throughout the 13 years, Northern Trust has supported us in times of transformative changes with its client-centric and solution-driven approach.

“Our decision to reappoint them is a testament to our successful working relationship and a confirmation of their contributions in helping us achieve our goals.”

Northern Trust said its Asset Owner business provides custody services to over 370 clients with collectively $3 trillion in assets under custody across EMEA.