Financial services group IFG has acquired Northern Trust International Fund Administration Services, a fund and company administration business in the Isle of Man, from a Northern Trust Corporation subsidiary for £3.23 million ($6.36 million). The corporate and trustee clients of NTIFAS will be integrated into IFG's trustee and corporate services unit; fund administration will be run separately and will be managed by four senior directors recently recruited from a major bank-led fund administration business.