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Thursday, October 14, 1999 Northern Chooses First Data For TA Northern Trust continues to broaden its funds distribution, hiring First Data to provide distribution and co-administration services for both Northern Funds and Northern Institutional Funds.
"The move to First Data Investor Services Group coincides with a major effort by Northern Trust to develop new and expanded distribution opportunities for our mutual funds," said Lloyd Wennlund, managing director, mutual funds for Northern Trust Global Investments. "With more than $26 billion in our combined retail and institutional fund families and significant growth momentum underway, we expect Northern to be an even larger player in the mutual fund business," Wennlund added. In July 1999, First Data Corp. entered into an agreement to sell its Investor Services Group to PNC Bank. The transaction is expected to close by the end of the fourth quarter, 1999. Printed from: MFWire.com/story.asp?s=25134 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |