Northern Trust has been appointed as global custodian of assets totalling €11bn ($11.9bn) for Alecta, the Swedish fund and insurance provider, and Royal Liver Assurance, the UK life assurance firm.

Alecta is one of the largest pensions providers in the Nordic region, with assets totalling $35bn (€32.4bn). Northern Trust will be responsible for all global assets, totalling $8bn, and provide securities lending, commission recapture and trade settlement services. The remainder of Alecta's assets are with domestic custody providers.