LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) has appointed Steve David as Country Head – Luxembourg.
In his new role, reporting to Toby Glaysher, head of Northern Trust’s Global Fund Services activities in Europe, Middle East and Africa (EMEA), David will be responsible for leading and managing the continued expansion of the organisation’s specialist fund servicing and custody operations in Luxembourg, which serves clients around the world.
“Northern Trust has experienced tremendous growth in Luxembourg in recent years, and Steve will focus on continuing to drive this growth while managing our expanding, and evolving, service offering,” said Glaysher. “Our priority is to ensure that Northern Trust remains positioned to provide world-class fund administration services, supplying our clients with the services they need to meet their requirements and those of their own underlying clients.”
David has been based in Northern Trust’s Luxembourg office since joining the organisation in 2004. Most recently he was managing director of the Luxembourg management company. He replaces Ian Baillie, currently Country Head – Luxembourg, who will retire in August 2012.
“During his career at Northern Trust, Ian has played an influential role in the evolution and growth of our Luxembourg operations within the development of our wider Global Fund Services business, overseeing a period of exceptional growth and performance,” Glaysher said. “Steve’s familiarity with the Luxembourg market and detailed knowledge of our business, client requirements and the regulatory environment ensure he is well placed to continue this momentum as he takes the lead in Luxembourg.”
Northern Trust opened its Luxembourg office in 2004. It provides specialist fund administration and custody services for tax-transparent, cross-border pooled funds, and traditional and alternative assets to a range of institutional clients around the world, including multinational pension funds, global and boutique asset managers. Northern Trust was the first major custodian to obtain a license to establish a UCITS compliant Management Company in Luxembourg and, in 2005, became the first to service a cross-border, tax-transparent Fonds Commun de Placement for a multinational client’s global pension plans.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2012, Northern Trust had assets under custody of US$4.6 trillion, and assets under investment management of US$716.5 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.
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Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission. Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission. Northern Trust International Fund Administration Services (Ireland) Limited, Northern Trust Securities Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Central Bank of Ireland. Northern Trust Global Services Limited has a Luxembourg Branch, which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Northern Trust Global Investments Limited has a Netherlands branch, which is authorised by the Financial Services Authority and subject to regulation in the Netherlands by the Autoriteit Financiële Markten. Northern Trust Global Services Limited has a Netherlands Branch, which is authorised and regulated in the Netherlands by De Nederlandsche Bank. Northern Trust Global Investments Limited has a Sweden branch, which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen. Northern Trust Global Services Ltd (UK) Sweden Filial is authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen. Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office. Our registered office is authorised and regulated by the Central Bank of the United Arab Emirates. The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority. The Northern Trust Company has a branch in China regulated by the China Banking Regulatory Commission. The Northern Trust Company of Hong Kong Limited is regulated by the Hong Kong Securities and Futures Commission. Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency. The Northern Trust Company has a Singapore Branch, which is a foreign wholesale bank regulated by the Monetary Authority of Singapore. The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch, which is an authorised foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorised trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
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