Northern Trust partners Donnelley to automate financial statement creation

Northern Trust Hedge Fund Services (NTHFS) has collaborated with compliance solutions provider Donnelley Financial Solutions

Northern Trust partners Donnelley to automate financial statement creation

Northern Trust Hedge Fund Services (NTHFS) has collaborated with compliance solutions provider Donnelley Financial Solutions to automate the creation, review and output of financial statements for clients.

Under the partnership, NTHFS will leverage Donnelley’s ArcReporing service to facilitate data aggregation and processing of year-end financial statements for its clients.

Donnelley president of global investment markets Eric Johnson said: “ArcReporting promotes consistency through content sharing and automation, and gives customers confidence their calculations and content are accurate and uniform.”

NTHFS head of North America Jeff Boyd said: “With Donnelley Financial Solutions’ ArcReporting, we are able to automate financial reporting for our clients. This provides us a more controlled process and enables our clients to further focus their attention on content specific aspects of financial reporting.”

NTHFS offers administration as well as middle office services to alternative fund managers and institutional investors. The business managed around $370bn in assets at the end of March 2018.

The latest partnership comes shortly after NTHFS’ partnership with treasury solutions provider Hazeltree to launch a new cash management service. Earlier this year, Northern Trust also agreed to acquire software development rights of Omnium technology platform.