Wyoming Retirement System (WRS) has selected Northern Trust to provide global custody services for its $7.4bn assets.
Under the partnership, Northern Trust will also offer securities lending, foreign exchange and performance reporting services.
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Wyoming Retirement System currently manages retirement benefits for employees of over 700 public employers statewide. It has nearly 42,000 active members, 26,000 retired members, 6,000 vested inactive members and 22,000 non-vested inactive members.
WRS executive director Ruth Ryerson said: "Northern Trust specializes in the services that meet the needs of our organization, and the efficiency of their systems and processes will benefit WRS throughout our continued relationship."
Northern Trust head of client services for public funds Marc Cosentino said: "Our integrated technology platform, and our emphasis on client service and industry expertise, will enable WRS to achieve scale and efficiency throughout our collaboration."
Founded in 1889, Northern Trust provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals.
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