Northern Trust in Citadel move
January 15, 2018

Northern Trust Corporation has reached an agreement with Citadel to bring Omnium technology development in-house. The agreement includes – a team of key development professionals as well as software development rights for the Omnium technology platform.

Northern Trust says the agreement gives it greater control over technological enhancements. Additionally, the transaction enables deeper collaboration between Northern Trust's operations professionals and the team of developers to provide innovative solutions for alternative fund managers, asset managers, institutional investors and family offices worldwide.

Northern Trust acquired Citadel's hedge fund administration business (Omnium) in 2011 and licensed its middle and back office investment technology. That business, now known as Northern Trust Hedge Fund Services, has grown from US$70 billion in assets under administration to more than $350 billion AuM, across more than 130 clients. Northern Trust Hedge Fund Services has approximately 1,200 employees worldwide.

The transaction is expected to close in the first half of 2018, subject to customary closing conditions included in the definitive binding agreement executed by the parties.





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Northern Trust Corporation has reached an agreement with Citadel to bring Omnium technology development in-house. The agreement includes – a team of key development professionals as well as software development rights for the Omnium technology platform.

Northern Trust says the agreement gives it greater control over technological enhancements. Additionally, the transaction enables deeper collaboration between Northern Trust's operations professionals and the team of developers to provide innovative solutions for alternative fund managers, asset managers, institutional investors and family offices worldwide.

Northern Trust acquired Citadel's hedge fund administration business (Omnium) in 2011 and licensed its middle and back office investment technology. That business, now known as Northern Trust Hedge Fund Services, has grown from US$70 billion in assets under administration to more than $350 billion AuM, across more than 130 clients. Northern Trust Hedge Fund Services has approximately 1,200 employees worldwide.

The transaction is expected to close in the first half of 2018, subject to customary closing conditions included in the definitive binding agreement executed by the parties.



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