US-based asset manager Northern Trust has entered into a partnership with data provider IHS Markit in a bid to further bolster its Whole Office strategy.
The partnership will enable the integration of IHS Markit’s thinkFolio multi-asset class investment management platform with Northern Trust’s middle office outsourcing platform.
This will allow the two firms to leverage each other’s strengths across the investment value chain to serve mutual institutional clients.
The step is expected to streamline workflows as well as reduce clients’ operational costs.
Northern Trust Corporate & Institutional Services president Pete Cherecwich said: “We have a long-standing relationship with thinkFolio and are excited to be working with them as we continue our drive to offer clients flexibility, scalability and best-in-class solution optionality across our Whole Office ecosystem.
“Our collaboration and technology integration with a number of leading front office platforms is key to driving operational efficiencies for our clients, minimising implementation costs, reducing operational costs, increasing speed to market – and ultimately positively impacts their bottom line, helping them to optimise performance.”
IHS Markit managing director and global head Brett Schechterman said: “We are advocates for Northern Trust’s Whole Office open architecture and interoperable ethos and look forward to matching thinkFolio’s cross-asset class strength, flexibility and managed service with the strength of Northern Trust’s middle office solutions to deliver further operational alpha for our clients.”
Northern Trust Whole Office is an open architecture platform designed to expedite client access to new technologies and capabilities. It serves asset managers, asset owners, investors and third party administrators.
Notably, the collaboration comes around two months after S&P Global agreed to acquire IHS Markit in an all-stock deal valuing $44bn.