Northern Trust's London Branch Names SG As Main Provider Of Euro Clearing Services
Northern Trust, headquartered in Chicago, is a leading global custodian to institutional investors worldwide. Current assets under administration total GBP 717 billion. SG, with a direct presence in Paris, Frankfurt and with London to be added in 1999, will have multiple access to TARGET through three Real Time Gross Settlement Systems (RTGSs) in Europe. ‘In addition to EBA membership, SG will be connected to all major European net clearing systems, complementing its capacity to make payments via its European network and its correspondent banks,’ commented François Coulet, head of UK Correspondent Banking for SG.