Northern Trust Co. has been named custodian for the $1 billion foundation of the University of North Carolina at Chapel Hill.The Chicago banking company is providing custody, risk management, and performance measurement services to the university's foundation investment fund and its temporary investment pool.

Northern Trust's corporate and institutional services trust and custody group will provide the services to the foundation. The unit has 1,000 clients, which include corporations, foundations, endowments, and government agencies.

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