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Products September 29, 2009
Merlin Adds Northern Trust Global Custody Services
September 28, 2009 (PLANSPONSOR.com) - Northern
Trust and Merlin Securities have agreed that Merlin prime
brokerage clients will get access to Northern Trust's global
custody and administration services.
Reported by Fred Schneyer
A news release said 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.
“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, in the news release. “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.”
“Merlin’s technology, risk analytics, and multi-custody reporting capabilities are a strong complement to Northern Trust’s hedge fund services,” said Peter Cherecwich, chief operating officer for Corporate and Institutional Services at Northern Trust.