Northern Trust has agreed to acquire Aviate Global, an institutional-focused equity brokerage firm in the UK, for an undisclosed sum.
The acquired firm offers market research, trading and execution services and is licensed to operate in many global jurisdictions.
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Subject to applicable regulatory approvals and other customary closing conditions, the transaction is expected to close in the first quarter of 2016.
Northern Trust president of corporate & institutional services Michael O’Grady said: "This transaction aligns with our commitment to provide clients with a comprehensive set of solutions to meet their investment servicing needs.
"We look forward to expanding our brokerage capabilities in EMEA and APAC to better serve our institutional and Global Family Office clients globally. Our clients also will benefit from the deep expertise and sophisticated trading solutions from the Aviate Global team. Additionally, the transaction demonstrates Northern Trust’s continued commitment to meeting the transition management needs of our clients."
Aviate Global co-founder Guy Gibson said: "We look forward to leveraging Northern Trust’s strong global brand and full range of asset management, asset servicing and wealth management services."
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