WASHINGTON (dpa-AFX) - Northern Trust (NTRS) said it has been named by The Nesta Trust to provide custody and related services for 345 million pounds or about $550 million in charity assets. This latest mandate underpins Northern Trust's focus on the charities, foundations and endowments sectors and adds to prior announced mandates such as the 710 million pounds or $1.2 billion Health Foundation, and the 881 million pounds or $1.4 billion National Trust.
The Nesta Trust is an independent charity with a mission to help people and organisations bring great ideas to life by providing investments and grants and mobilising research, networks and skills. The Nesta Trust inherited the assets of the former National Endowment for Science, Technology and the Arts on April 1, 2012.
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