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Horizon Hires Global Custodian

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CHICAGO (–Growing its assets from US$400 million to US$1.8 billion in the last five years, Horizon Cash Management now has named Northern Trust Company as its global custodian bank to help handle the surge in assets.

Horizon announced that its assets have doubled in the last 18 months alone. The firm helps hedge funds, managed futures funds and family offices manage their cash balances. Last month, Sydney-based firm Highland Capital Management hired Horizon to handle the cash reserves of its US$116 million trading program (see ).

“Challenging markets compel even the best asset managers to make the most effective use of cash balances and that has fueled Horizon’s significant growth,” said Diane Mix, Horizon president and founder, in a statement.

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