Northern Trust’s Passport service for custodial clients is adding a new online straight-through processing service. It will notify clients of corporate actions at companies in which they own stock and allow them to create an audit history and track their decisions on topics such as tendering stock, stock splits and mergers, said Paul Jezek, vice president.
Northern Trust also will add security features to ensure custodial clients’ safety when conducting business in Passport.
Northern Trust has $1.5 trillion in institutional assets under custody.
