Merlin Teams With Northern Trust To Offer Custody, Admin. Services

Sep 29 2009 | 2:52pm ET

Northern Trust and Merlin Securities have entered into an agreement to provide Merlin prime brokerage clients with fully integrated access to Northern Trust’s global custody and administration services.

According to both firms, the agreement with Northern Trust enhances Merlin’s existing broker-dealer custody relationships with Goldman Sachs Execution and Clearing and J.P. Morgan Clearing Corp. Merlin’s clients now have access to all three providers through Merlin’s multi-prime reporting platform.

“In today’s market, managers and investors are seeking custodial solutions that reduce their counterparty risk and provide fully integrated, multi-custodian reporting analytics and risk data,” said Stephan Vermut, founder and managing partner of Merlin. “Our agreement with Northern Trust addresses this need for our clients and grants seamless access to a bank custody provider with an unparalleled reputation for quality, safety and stability.”

“Northern Trust is delighted to add Merlin and its clients to our growing hedge fund custody and administration business – which now provides asset servicing for more than $90 billion in assets worldwide,” said Peter Cherecwich, chief operating officer for corporate and institutional services at Northern Trust. “Merlin’s technology, risk analytics, and multi-custody reporting capabilities are a strong complement to Northern Trust’s hedge fund services.”

Northern Trust delivers comprehensive, customized custody services to global investors, including trade settlement in approximately 95 developed and emerging markets. Other global custody services include asset safekeeping, foreign exchange, cash management, income collection, tax reclamation, corporate actions, and proxy voting, as well as reporting and accounting.

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