UBS has reached an agreement to acquire to fund administration servicing units of Northern Trust Asset Management from Northern Trust Group, according to Northern Trust; financial terms of the deal have not been disclosed. The move comes as UBS expands its European business, while Northern Trust has indicated that shifting the administration of its funds to another company would boost efficiency.
Northern Trust has reached an agreement to acquire to fund administration servicing units of UBS Asset Management from UBS Group, according to UBS; financial terms of the deal have not been disclosed. The move comes as Northern Trust expands its European business, while UBS has indicated that shifting the administration of its funds to another company would boost efficiency.