Northern Trust’s Integrated Trading Solutions (ITS) outsourced trading desk is supporting Waverton Investment Management, an independent investment manager providing services for private and professional clients.
Based in the United Kingdom, Waverton is an owner-managed investment management firm with offices in London, Edinburgh and Glasgow and £9.1 billion (approximately US$11.6 billion) in assets under management (AUM), as of 31 December 2022.
Serving private investors, charities, financial advisers and institutional investors, Waverton’s aim is to generate inflation-beating returns over the long term, using an active and flexible, multi-asset investment approach through bespoke portfolios or specialist funds.
Northern Trust is supporting the trading of equities, derivatives and fixed income assets as Waverton’s sole provider of trading services. The appointment followed a review by Waverton of its operating model intended to help align its operational structure with plans to expand its product range and investment capabilities. It also resulted in two of its traders – Rene Naya and Sam Tresadern – joining Northern Trust.
Michael Allen, chief operating officer at Waverton, said, “Outsourcing our trading to Northern Trust provides Waverton with access to global markets, high-quality liquidity and operational scale, while also allowing us to continue benefiting from Rene and Sam’s valuable institutional knowledge of our business. In addition to both organisations’ strong service ethos and cultural fit, we are confident this combination delivers the service and operational resilience we require to support our growth aspirations.”
Glenn Poulter, global head of brokerage and ITS at Northern Trust, said, “We are excited to be supporting Waverton’s commitment to client service and focus on growth in our role as its outsourced trading provider. To date, our ITS client base has consisted primarily of institutional asset managers and asset owners, but we see increasing interest in this solution from wealth managers as they look to enhance operating capacity and future-proof their operating models. Our appointment by Waverton is testament to this shift and we look forward to working further with managers across this sector globally.”
Northern Trust’s outsourced trading capability combines equities, fixed income and exchange traded derivatives across global markets, coverage from multiple trading locations, with access to liquidity and an integrated middle and back office service. ITS is designed to help asset owners and asset managers to lower costs, reduce risk, manage regulatory compliance, and enhance transparency and operational efficiency.
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