Northern Trust Reappointed by People's Pension

The renewed agreement retains Northern Trust's role across fund administration, custody, securities lending and performance measurement.

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10/26/2026 - 05:00 AM EDT

Long-standing Relationship Continues as Northern Trust Supports the Scheme's Strategic Objectives

LONDON--(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) today announced it has been reappointed by People's Pension to provide fund administration, global custody, securities lending and performance measurement. The agreement extends a relationship that began in 2018 and supports the pension scheme's ongoing investment and operational objectives.

People's Pension is one of the United Kingdom’s leading workplace pension schemes, serving 7.2 million members and helping businesses across all sectors provide retirement benefits for their employees. The scheme manages £45 billion in assets (approximately US $60.1 billion) and continues to build on its long-term growth trajectory.

Over the past eight years, Northern Trust has worked closely with People's Pension through a significant evolution of its investment operating model, including its transition to direct asset ownership and a multi-asset class structure.

"This reappointment reflects the strength of our longstanding relationship with People's Pension and our shared commitment to delivering positive outcomes for millions of UK savers," said Ian Hamilton, head of asset owners, EMEA (Europe, the Middle East and Africa), at Northern Trust.

"Since 2018, we have worked closely together to support the scheme's significant growth and evolution, providing the operational scale, governance framework and specialist expertise required by one of the UK's leading defined contribution pension schemes. As the UK DC market continues to evolve through regulatory reform, consolidation and increasing investment sophistication, we remain committed to helping People's Pension deliver on its long-term ambitions and the needs of its members."

Chris Fagan, Trustee and Chair of the Investment Committee for People’s Pension commented: "We are pleased to continue our longstanding relationship with Northern Trust, whose team has developed a deep understanding of our operations and objectives over many years. Together, we are focused on strengthening our capabilities and ensuring we continue to deliver the best possible outcomes for our 7.2 million hardworking members.”

Dan Mikulskis, Chief Investment Officer for People's Pension, added: "Building strong alliances with organisations that share our vision is fundamental to our journey in becoming a world-class asset owner, and supports our goal to become one of the world’s largest asset owners within the decade. Northern Trust has been a trusted provider throughout the past eight years, helping us enhance transparency, stewardship and operational effectiveness as we continue to grow."

For many decades, Northern Trust has been dedicated to serving the needs of global asset owners. The goal within the asset owner segment is to empower the missions of its clients, supporting their investment and operational objectives, so that they may serve their constituents, their communities, and the world.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

http://www.northerntrust.com