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Northern trust buys UBS fund services units

20 February 2017

Northern Trust will become the fund administration services provider for $413 bn in assets

Northern Trust has entered into an agreement to acquire UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.

The transaction is expected to close in the second half of 2017, subject to regulatory and fund board approvals, and other customary closing conditions.

The acquisition will enable Northern Trust to expand its presence in Luxembourg and gain...