Northern Trust acquires technology provider to bolster front-office unit for asset owners
The custodian’s Front Office Solutions unit advances its partnership with Parilux Investment Technology to provide data solution for asset owners.
The custodian’s Front Office Solutions unit advances its partnership with Parilux Investment Technology to provide data solution for asset owners.
The new client wins signify a growing acceptance among asset managers to use custodians for a range of front-office services.
The deal will integrate EDS decision support tools with Northern Trust’s core technology platform, providing it with new data science capabilities.
The new tools will provide further support for institutional investors and asset owners that manage their own sophisticated portfolios.
The move continues BNY Mellon’s evolution of its core asset servicing business, where it sees providing data management services as the next competitive battleground.
Custodians are aiming to evolve their outsourcing business model and leverage new technology to accommodate front-office solutions.
Asset managers are looking to train their teams across the front-, middle- and back-office in order to give them a full end-to-end picture of the investment process.
Northern Trust is six months in to the launch of its custody-agnostic front-office solutions business, led by a former client of the Chicago-based bank.
The front office solutions business went live in February this year to meet the growing investment, operational and technological needs of its larger asset owner clients.
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