Northern Trust Corp. has been selected by Lincoln Financial Group to be the custodian of its defined benefit retirement plan.
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The Chicago banking company is to serve a $1.1 billion-asset defined benefit plan. Northern Trust will offer securities lending and investment risk and analytical services, in addition to custody, it said Monday.
Lincoln Financial Group is the marketing name for Lincoln National Corp. The Philadelphia insurer had $237 billion of assets under management at Dec. 31. Northern had $4.1 trillion of assets under custody, including $757.2 billion under management.
