Nunavut Trust, Ottawa, Ontario, hired Northern Trust as global custodian for the trust's C$1.6 billion ($1.27 billion) in assets.
Northern Trust also will provide cash management, securities lending, risk analytics, foreign exchange, class-action processing and alternative asset accounting services.
RBC Investor & Treasury Services was the previous custodian, according to the trust's website.
The Nunavut Trust oversees assets from capital transfers paid under a land claims agreement between the Inuit of Nunavut and the Canadian government.
Sean Kulik, the trust's chief financial officer, could not be reached by press time for further information.