Northern Trust has partnered with BlackRock to offer enhanced operations, data, and servicing capabilities to mutual clients.
The capabilities will be offered via BlackRock’s investment management platform Aladdin.
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The partnership aligns with Northern Trust’s plan to offer integrated services and technology across the full investment lifecycle.
It is said to boost efficiency, interoperability and transparency across the back, middle and front office.
BlackRock COO Rob Goldstein said: “The current climate has once again demonstrated the importance of data symmetry and streamlining communication across the investment lifecycle from the asset manager to the asset servicer.
“BlackRock and Northern Trust are committed to providing increased transparency, accuracy and operating model flexibility for our mutual clients, leveraging our joint capabilities through Aladdin Provider.”
The alliance is an extension of Northern Trust Whole Office, which supports the integration of Northern Trust’s global asset servicing platform with innovative partners.
Northern Trust president of Corporate & Institutional Services Pete Cherecwich said: “The alliance connects Northern Trust’s fund accounting, fund administration, asset servicing, and middle office capabilities to BlackRock’s Aladdin platform, creating greater connectivity between asset manager and asset servicer.”
BlackRock has struck other similar partnerships in recent times.
Last month, the firm collaborated with BNP Paribas Securities to offer an integrated end-to-end investment management solution to mutual customers through Aladdin Provider.
BlackRock recently also joined forces with Microsoft to move Aladdin to the Microsoft Azure cloud platform.
