Rensselaer Polytechnic Institute, Troy, N.Y., hired Northern Trust as global custodian for its $1 billion in endowment, pension and other assets, Theresa Bourgeois, RPI's director-media relations, confirmed.
"As the institute expands ... the complexity of our investments grows," institute treasurer and CIO Wale Adeosun said in a news release. "We look forward to working with Northern Trust's suite of online tools and leveraging their experience with major endowments and complex portfolios."
Northern replaces Mellon Financial.