Agreement extends 18-year working relationship
Northern Trust has been reappointed as the asset servicing provider for the Healthcare of Ontario Pension Plan (HOOPP), which oversees C$103 billion in assets. Northern Trust will provide global custody, foreign exchange, and securities lending services to the Canadian pension.
“We are proud that HOOPP renewed our longstanding partnership. This decision is a testament to the successful relationship we have built together over the last 18 years, and we look forward to continuing our collaboration to support HOOPP’s mission,” says Katie Pries, president and CEO of Northern Trust Canada.
Established in 1960, HOOPP is one of Canada's “strongest and most stable” defined benefit (DB) pension plans, particularly serving healthcare workers in Ontario. Over the years, it has played a crucial role in helping healthcare professionals build a solid financial foundation for retirement.
Northern Trust brings over three decades worth of expertise in delivering asset servicing solutions for institutional investors and investment managers in Canada. As of September 30, 2023, Northern Trust reported assets under custody/administration of $14.2 trillion and assets under management of $1.3 trillion.
