Northern Trust Corporate & Institutional Services 1 CASE STUDY: $17 BILLION GLOBAL MULTI-ASSET INVESTMENT MANAGER Implementing a delegated foreign exchange service allowing the client to expand its reach, reduce operational risk, and improve transparency. MANAGER PROFILE • Diverse investor base across SMAs, closed-end funds, mutual funds and non-U.S. funds • Strategies spanning corporate credit, infrastructure securities, real estate securities and securitized credit • SEC registered investment advisor THE CHALLENGES • The client managed several fund types with multiple custodians, and was finding it increasingly hard to manage FX operations consistently. • Multiple FX providers with varied service levels and reporting made it nearly impossible to get a meaning

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