Arab Fund for Economic and Social Development names Northern Trust its Asset Servicing Provider

Arab Fund for Economic and Social Development names Northern Trust its Asset Servicing Provider

KUWAIT – Northern Trust (Nasdaq: NTRS) today announced it has been appointed by Arab Fund for Economic and Social Development (AFESD) to provide a range of asset servicing solutions spanning global custody, financial reporting, securities finance, private equity administration, performance measurement and compliance monitoring.

AFESD, based in the State of Kuwait, is an Arab regional financial institution focused on funding economic and social development by financing public and private investment projects and providing grants and expertise to support education institutions, universities, professional and social associations. Projects financed by AFESD include infrastructures in electricity, communications and transportations.

“AFESD’s investment strategy continues to evolve against the backdrop of new markets and asset classes investment opportunities,” AFESD said in a statement. “It is important for us to have the data and insights to support our dynamic strategic asset allocations and decision-making processes, and on investment governance and reporting. Having a strategic partner like Northern Trust, with its global capabilities and a local team of experts on the ground that understands our needs and supports our approach, can help us navigate a complex and evolving landscape.”

“We are pleased to be supporting AFESD and its investment activities,” said Michael Slater, head of Middle East and Africa at