Northern Trust to Provide Discretionary Outsourced Chief Investment Officer “OCIO” Services to Council of Independent Colleges
CHICAGO--(BUSINESS WIRE)--Dec 5, 2018--Northern Trust’s Foundation and Institutional Advisors Group has been selected to provide discretionary OCIO services for the Council of Independent Colleges (“CIC”) endowment and reserve assets, Northern Trust announced today.
“We look forward to our relationship with Northern Trust as CIC’s new discretionary investment advisor, with its proactive approach to growing and protecting CIC’s investment assets,” noted Richard Ekman, president of the Council.
For more than 50 years, CIC has helped member colleges and universities to find ways to increase the quality of education and strengthen institutional resources. It is the major national organization that focuses solely on providing services directly to independent colleges and universities. CIC’s endowment provides much needed scholarships for students who attend member colleges and universities. CIC’s reserves provide strategic investment opportunities in member services and operations.
“Northern Trust is proud to be serving CIC’s investment management needs,” said Darius A. Gill, National Practice Executive, Northern Trust Foundation & Institutional Advisors group. “We look forward to working with the Council of Independent Colleges in support of its important mission for years to come.”
About the Council of Independent Colleges
The Council of Independent Colleges (CIC) is an association of nonprofit independent colleges and universities that has worked since 1956 to support college and university leadership; advance institutional excellence; and enhance public understanding of private higher education’s contributions to society.
CIC is the major national organization that focuses on providing services to leaders of independent colleges and universities as well as conferences, seminars, and other programs that help institutions to improve the quality of education, administrative and financial performance, and institutional viability. CIC also provides support to state fundraising associations that organize programs and generate contributions for private colleges and universities.
Eligibility for CIC membership is open to all small and mid-sized private liberal arts colleges and universities in the U.S., currently 657 are members, as well as those located outside the U.S., currently 19 are members Two-year independent institutions and nonprofit organizations that support the purposes of independent higher education are also eligible to be members of CIC. To learn more, visit www.cic.edu.
Northern Trust’s Foundation & Institutional Advisors (FIA) group serves the investment and advisory needs of foundations, endowments and other nonprofit institutional investors. FIA can serve as either a dedicated investment advisor or as a fully outsourced chief investment officer. The practice is consultative and advice-driven, providing holistic solutions that combine sophisticated advisory expertise with a spectrum of value-added services. More information about Northern Trust Foundation and Institutional Advisors can be found at www.northerntrust.com/FIA.
Northern Trust Wealth Management specializes in Goals Driven Wealth Management backed by innovative technology and a strong fiduciary heritage. Northern Trust Wealth Management is ranked among the top 10 U.S. wealth managers, with $295.5 billion in assets under management as of September 30, 2018, and a wide network of wealth management offices across the United States.
The Northern Trust Company is an Equal Housing Lender. Member FDIC.
About Northern Trust
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 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2018, Northern Trust had assets under custody/administration of US$10.8 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
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/disclosures.
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SOURCE: Northern Trust
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PUB: 12/05/2018 10:00 AM/DISC: 12/05/2018 10:01 AM