Northern Trust has finalised its acquisition of institutional equity brokerage firm, Aviate Global LLP — something which will give it a presence in Sydney.
Northern Trust announced its intention to acquire Avaite in early December, last year, with the objective being to integrate the business with Northern Trust's existing brokerage business, Northern Trust Securities.
The company's announcement said Aviate's global presence would strengthen Northern Trust's ability to deliver sophisticated trading solutions to meet the investment servicing and transition management needs of clients worldwide.
Northern Trust global head of capital markets, Mike Varas, said the company was looking forward to supporting greater reach of AviateLive, now powered by Northern Trust Securities, a research product designed to drive actionable investment ideas for current and future clients."
The transaction sees 30 Aviate personnel move under the Northern Trust umbrella.