{"url":"https://newsforagent.com/news/2026-10-26/northern-trust-leaveplus-asset-servicing-mandate","markdown_url":"https://newsforagent.com/news/2026-10-26/northern-trust-leaveplus-asset-servicing-mandate.md","title":"Northern Trust Wins LeavePlus Asset Servicing Mandate","headline":"Northern Trust Appointed to Service LeavePlus's AUD $2.6 Billion Scheme","description":"Northern Trust will provide global custody, fund administration and compliance monitoring for LeavePlus.","section":"Partnerships","published_at":"2026-10-26T23:17:15+00:00","modified_at":"2026-10-26T23:17:15+00:00","author":"News Desk","key_takeaways":["Northern Trust was appointed to provide global custody and related asset servicing for LeavePlus, Victoria's portable long service leave scheme for construction workers.","LeavePlus manages approximately AUD $2.6 billion in assets and supports more than 290,000 eligible workers and over 30,000 employers.","The servicing model is designed to support LeavePlus's investment portfolio, including private markets and derivatives, and to enhance data, governance and reporting capabilities."],"companies":[{"name":"Northern Trust","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00071z5/northern-trust","website":"http://www.northerntrust.com"},{"name":"LeavePlus","is_primary":false,"profile_url":"https://akta.pro/company-profiles/004n8cq/leaveplus","website":"https://leaveplus.com.au"}],"source":{"publisher":"Business Wire","title":"Northern Trust appointed by LeavePlus for asset servicing","url":"https://www.businesswire.com/news/home/20261026925975/en/"},"other_sources":[],"tags":["Partnerships","Northern Trust","LeavePlus"],"body_markdown":"Northern Trust will provide global custody and related asset servicing for [LeavePlus](https://akta.pro/company-profiles/004n8cq/leaveplus), Victoria's portable long service leave scheme for construction workers, which manages approximately AUD $2.6 billion in assets. The appointment was announced by [Business Wire](https://www.businesswire.com/news/home/20261026925975/en/).\n\n## Northern Trust's Custody and Administration Role\n\nUnder the appointment, [Northern Trust](https://akta.pro/company-profiles/00071z5/northern-trust) will provide an integrated suite of asset servicing, including global custody, fund administration, investment accounting, performance measurement and compliance monitoring services. The servicing model is designed to support LeavePlus's increasingly sophisticated investment portfolio, including private markets and derivatives, while enhancing data, governance and reporting capabilities.\n\nLeavePlus was established in 1976 and is celebrating its 50th year. It manages approximately AUD $2.6 billion, or US $1.8 billion, 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.\n\n\"Organisations are increasingly seeking providers that can deliver both operational strength and a highly engaged service experience,\" said Leon Stavrou, head of Australia and New Zealand at Northern Trust. \"We are proud to have earned LeavePlus' confidence through our client-focused approach, service excellence, and disciplined risk culture.\"\n\n\"As LeavePlus continues to evolve, we require an asset servicing model capable of supporting the scale and complexity of our investment portfolio while enhancing access to data, reporting and investment insights in support of the long service leave entitlements of Victorian construction workers,\" said Craig Bell, Chief Executive Officer at LeavePlus.\n\n## Northern Trust's Recent Servicing Mandates\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Northern Trust was appointed by TirNua Capital Partners in June 2026 to provide fund administration, depositary and banking services for TirNua's inaugural €340 million infrastructure fund focused on supporting the transition to a low-carbon economy. The same records show Northern Trust provided fund administration for Coinbase Asset Management's CUSHY tokenized credit strategy fund in April 2026, extending asset servicing into digital asset infrastructure across Base, Solana, and Ethereum networks.\n\n## Earlier Northern Trust Client Appointments\n\nOn October 26, 2026, Northern Trust was reappointed by People's Pension to provide fund administration, global custody, securities lending, and performance measurement, extending a relationship that began in 2018, according to TradingView. On October 20, 2026, Northern Trust appointed Rima Qureshi, former Verizon chief strategy officer, to its board of directors effective immediately, Stock Titan reported. On October 16, 2026, Seeking Alpha reported that UBS transferred fund administration to Northern Trust.\n\n## LeavePlus's Scheme Details\n\nLeavePlus is the trading name of CoINVEST Limited, trustee and administrator of Victoria's portable long service leave scheme for the construction industry. It operates under the Construction Industry Long Service Leave Act 1997 (Vic) and is responsible for administering worker entitlements, regulating employer participation and managing the assets that support the scheme.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}