Northern Trust said it will provide asset servicing, including trade settlement, income collection and valuation reporting for the $6.5bn fund overseen by the Orange County Treasurer-Tax Collector’s Office.
The Orange County Treasurer-Tax Collector’s Office is responsible for collecting taxes on all secured and unsecured property in Orange County, as well as the receipt, custody, depository, investment, and recording of funds for the County, school districts, and special districts.
Additional duties include issuance of short-term debt on behalf of the County and school districts, remittance processing services, information system services, and departmental administrative support.
Northern Trust head for Corporate & Institutional Services unit in Americas Biff Bowman said that Northern Trust’s deep understanding of public funds and dedication to servicing these clients differentiates Northern Trust and leads to solutions appropriate to the specific needs of public entities.
