UK / SWEDEN – Northern Trust (NT) is now sole custodian for the SKr 4bn (€428m) consolidated portfolios of Stockholm-based Nobel Foundation of Sweden (NFS).

NT originally provided custody for two of NFS’s portfolios worth some SKr617m combined.

Details about the individual size and make up of the portfolios is not available.

The appointment follows a request for proposal (RFP) issued by NFS as part of their strategy to obtain a full global custody service and to consolidate all their assets with one provider.

Says Ake Alteus, deputy executive director of NFS : “Having all the information from all our portfolio managers in one place should result in enhanced quality and efficiency in the reporting.”

Says Ake Alteus, deputy executive director of NFS : “Having all the information from all our portfolio managers in one place should result in enhanced quality and efficiency in the reporting.”