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Eversheds Sutherland acts for Hermes Investment Management on outsourcing transaction

  • United Kingdom
  • Global


    Eversheds Sutherland has acted for longstanding client Hermes Investment Management, the GB£35.3 billion manager (as of 30 June, 2018), on a new five-year Investment Operations Outsourcing agreement with Northern Trust.

    The global legal practice provided advice on a complete amendment and restatement of the previous arrangement. This included incorporating recent regulatory changes such as the General Data Protection Regulation and ensuring that the agreement was updated to meet the latest market standards for this type of outsourcing.

    Headquartered in London, Hermes Investment Management provides a broad range of specialist, active investment strategies and stewardship services to institutional and wholesale clients across the globe. Hermes’ strategies focus not just on financial results, but also on delivering outcomes beyond performance: holistic returns that consider impacts to society, the environment and the wider world.

    The Eversheds Sutherland team was led by Partner Simon Gamlin, with support from Principal Associate Rachel Ferguson.

    Partner Simon Gamlin commented:

    “We are delighted with the opportunity to advise our longstanding client Hermes Investment Management on this significant renewal of their relationship with Northern Trust. The complexity of the legal work involved in this extension is testament to Eversheds Sutherland’s long standing and market leading outsourcing practice within the asset management sector.”

    Jenny Whiteman, Director of Legal Services at Hermes Investment Management added:

    “Eversheds Sutherland provided Hermes with market leading advice and guidance, demonstrating their knowledge and deep understanding of the industry, thus making the review and renewal process of our outsourcing agreement with Northern Trust simple and seamless.”

    Northern Trust were advised by Millbank Tweed Hadley & McCloy LLP.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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