Northern Trust has been selected to provide global custody and related services, including financial and regulatory reporting, to the defined contribution retirement plan of The Boeing Company, the company said.
Boeing has one of the largest DC/401(k) plans in the United States, with approximately USD 54 billion in assets. In addition to global custody, valuation and unitization of assets, Northern Trust will provide a range of regulatory and performance reporting solutions, compliance monitoring, derivatives processing and third-party custom cash fund servicing.
Northern Trust provides custody and administrative services to more than USD 358 billion in DC assets, as of June 30, 2017. Retirement Solutions takes a consultative approach to addressing the needs of plan sponsors and participants while offering a suite of solutions aimed at improving retirement outcomes. More information can be found here.
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region.
Boeing is the world´s largest aerospace company and leading manufacturer of commercial jetliners, defense, space and security systems, and service provider of aftermarket support. As America´s biggest manufacturing exporter, the company supports airlines and US and allied government customers in more than 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.