Citi and Northern Trust score big China mandate

China's National Council for Social Security Fund (NCSSF) has selected Citigroup and Northern Trust to provide custody services for its imminent overseas investments. Announced in October, both custodian banks will provide services for China's first institutional fund to invest offshore as the government looks to tackle the country's aging demographic with a more lucrative investment strategy.The mandate win for Citigroup and Northern Trust follows the June announcement that the fund …