Bank of Ireland Group has sold Bank of Ireland Securities Services (BoISS) to Northern Trust for a total consideration of up to US$87 million in an all-cash agreement.
Bank of Ireland Securities Services is a fund administration, investment operations outsourcing and custody business. BoISS has over ten years of experience in the European Exchange Traded Fund (ETF) market and was recently named Best European ETF Service Provider at the Global ETF AWARDS® for the fourth consecutive year.
Northern Trust Corporation is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 states and 16 international locations in North America, Europe, the Middle East and the Asia Pacific region.
Oaklins' team in Ireland advised Bank of Ireland Group throughout the sale process.
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