In Australia, Northern Trust has been appointed to provide global custody and related services for LeavePlus, the portable long service leave scheme for Victoria’s construction industry. LeavePlus manages approximately AUD2.6bn (USD1.8bn) in assets and supports more than 30,000 employers in providing long service leave benefits to over 290,000 eligible workers in Victoria’s construction industry. Under the appointment, Northern Trust will provide an integrated suite of asset servicing, including global custody, fund administration, investment accounting, performance measurement and compliance monitoring services.
