Northern Trust takes VCIMCO mandate

Virginia Commonwealth University Investment Management Company (VCIMCO) has picked Northern Trust to serve as global custodian for its investment funds, which include Virginia Commonwealth University (VCU) endowment and other VCU-affiliated assets. Northern Trust will also provide fund accounting and fund administration services.

Richmond-based VCIMCO, which began its operations in late 2015, provides investment management services to VCU and other entities affiliated with VCU operating in support of its mission.

“Northern Trust’s innovative custody platform along with their expertise in servicing alternative investments were key differentiators for us,” said William I Lee, chief operating officer at VCIMCO. “They offer high-quality client service, robust technology solutions and a broad array of services, which solidified our selection. We are excited to work with Northern Trust as we evolve and grow together.”

Said Pete Cherecwich, Americas head of Corporate & Institutional Services at Northern Trust. “The addition of VCIMCO is a testament to our culture of client-focussed solutions and dedication to understanding our clients’ business needs and objectives. We remain committed to continued product and technology innovation and service excellence to benefit our clients.”