Asset manager demand for advanced front-office support propels growth of Investment Data Science business at Northern Trust
Northern Trust (NASDAQ:NTRS) announced today that Cornerstone FTM, a financial technology focused investment fund, has selected Northern Trust and its strategic partner, Equity Data Science (EDS), for Research Management System (RMS) and Portfolio Construction solutions. Cornerstone will also leverage Northern Trust custody and hedge fund administration services, and data visualization and ingestion capabilities from EDS.
This new collaboration highlights the continued growth momentum of Northern Trust's Investment Data Science (IDS) product suite, of which EDS is a key partner. In the last 12 months, IDS has more than doubled the number of clients that utilize its services.
"The solutions available through Northern Trust and EDS support our critical processes and decision-making from front to back office," said Jean-Jacques Louis, CIO & Co-Founder of Cornerstone FTM. "We are impressed with their advanced capabilities that will automate our investment process, allowing us to scale and make better investment decisions. We look forward to capitalizing on these data aggregation, ingestion and visualization tools to improve our investment process."
RMS and Portfolio Construction are data-driven tools that allow for quicker, more informed investment decisions backed by actionable insights. Using the tools, investment teams are better equipped to analyze and measure the success of their inputs and decisions.
Paul Fahey, Head of Investment Data Science at Northern Trust Asset Servicing, said: "this appointment by Cornerstone, FTM is further evidence of the value of our data science toolset, which helps our clients drive high quality outcomes so they can invest more effectively in their core activities. We look forward to building on our momentum in the future."
As Northern Trust continues to expand its solutions and reach, it remains committed to delivering its Whole Office strategy. Moving beyond middle and back-office capabilities, Northern Trust Asset Servicing can offer services and benefits to all parts of an asset manager's business, including direct support for portfolio managers' daily investment processes.