UBS agrees to expand Northern Trust fund administration collaboration

UBS agreed to expand its fund administration relationship with Northern Trust and transfer the former Credit Suisse fund administration businesses in Switzerland and Luxembourg. Closing is expected in the second quarter of 2027, subject to regulatory approval, followed by a phased migration. UBS also selected Universal Investment as its preferred third-party Luxembourg management company for white-label clients. The announcement is by UBS AG; it recalls UBS Asset Management's earlier 2017 fund administration sale to Northern Trust.