Leon Stavrou
Northern Trust (Nasdaq: NTRS) has announced that it was selected to provide global custody and valuation reporting services for Australian life insurance company Generation Life.
With the new remit, Northern Trust will provide support to AU$1.5 billion (as of 31 January 2025) of Generation Life’s portfolio assets, including domestic and international equities, bonds, FX, and SICAVs.
Founded in 2007 and based in Melbourne, Generation Life specialises in providing tax effective investment solutions with over AU$3.8 billion in total funds under management (as of 31 December 2024).
“Northern Trust’s position as one of Australia’s leading asset servicing providers allows us to dedicate resources and tailor capabilities to meet our clients’ unique needs,” said Leon Stavrou, Country Head of Australia, Northern Trust. “Our selection by Generation Life, a leader in their field, will help them achieve operational excellence, and we look forward to building a highly successful partnership.”
“In making the decision to partner with Northern Trust, we were impressed by the quality of their comprehensive services, which exceeded our expectations,” said Felipe Araujo, Chief Executive Officer, Generation Life. “This is an important partnership for Generation Life. Northern Trust’s focus on investment in digital technology strongly aligns with our objective to deliver a scalable operating model to support our growth ambitions and enhance the experience for our clients.”