Northern Trust wins custody deal with a Hong Kong university

Chi Fung memorial building in HKBUHong Kong Baptist University has selected Northern Trust to provide global custody and accounting service for its endowment. The US-based firm, which operates 11 offices in the Asia-Pacific region, said universities were a strategically important client type. “Endowments are a growing segment in the Asia-Pacific region and there is an increasing need for more timely, accurate and granular reporting,” said Michael Wu, country executive for Greater China at Northern Trust. Founded in 1956, Hong Kong Baptist University is a fully funded public institution that was established with the support of American Baptist Christians. Northern Trust operates offices in Australia, China, Hong Kong, India, Japan, Malaysia, Philippines, Singapore and South Korea. ©2018 funds global asia

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