That new joint venture, Helaba NorthernTrust GmbH, will provide advisory services to Helaba Invest, Helaba’s institutional asset management subsidiary, for institutional investors in Germany.
“Northern Trust will be leveraging the German partner’s presence in the local market from a distribution standpoint, managing the assets generated by Heleba” Potter, told PLANSPONSOR.com.
“The group’s initial focus on fixed income products, or “fixed-interest” products as they are known in Germany, stems from traditional investment practices in that country, where pension funds managers invest predominantly in bonds,” according to Potter.
“However, the group plans to introduce US equities and high yield bonds to the market, ” he added.
Potter stressed that the joint venture is only related to Northern Trust’s asset management activities and not to its custody products, adding that the group has expanded its global capabilities over the years and plans to continue doing so.
Potter revealed that Northern Trust is also looking to expand into additional markets throughout Europe and will be looking to form partnerships there, but declined to provide further detail.