Northern Trust Corp. has agreed to provide global custody, accounting, performance measurement, and investment mandate compliance monitoring services to qualified Chinese institutional investors for Bank of Communications of Beijing.
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The Chicago company said Thursday that the agreement "marks the beginning of a working relationship between the two institutions to jointly service institutional investors in China as the restrictions on investment in foreign assets are relaxed."
As of Sept. 30, Northern Trust had $3.3 trillion of assets under custody and $667 billion of assets under management.
