Staff
The IWA Forest Industry Pension Plan has named Northern Trust as global custodian for the $3.1-billion pension fund.
As custodian of the assets, Northern Trust will also provide investment accounting, securities lending, compliance monitoring and performance services to the plan.
“We are delighted to announce the IWA Forest Industry Pension Plan as a significant new client,” says Arti Sharma, president and CEO of The Northern Trust Company, Canada.
The IWA Forest Industry Pension Plan is jointly funded by approximately 400 participating companies and close to 70,000 members. The administration of the plan is overseen by a board of trustees equally representing the United Steelworkers and forest industry employers.