- February 2, 2010 - Executive Moves - January 2010
North America
CitizensTrust, the wealth management division of California-based Citizens Business Bank, hired William Zaleski as manager of trust services. He reports to Chris Walters, executive vice president of the bank and head of CitizensTrust. Mr Zaleski was most recently a senior wealth advisor at Dubuque Bank & Trust.
- January 21, 2010 - Northern Trust Reports Record Income, Double-Digit Asset Growth
Chicago-based Northern Trust has reported record net income of $864. 2 million for 2009, a rise of 9 per cent from $794. 8 million the previous year, while net income for the fourth quarter of 2009 was $200.
- January 20, 2010 - Northern Trust Expands Securities Exposure Reporting To OTC Derivatives
Chicago-based Northern Trust has expanded its securities exposure reporting to include counterparties for over-the-counter derivatives contracts, in addition to traditional investments such as equity and fixed-income holdings.
The new service will be available on the firm's web portal, Passport, and is intended to simplify the process of gathering and aggregating information across multiple investments and accounts.
The new tool combines market exposure from equity and fixed income holdings with other sources of exposure such as counterparty exposure from over-the-.
- January 19, 2010 - Northern Trust Names New Jersey Head
Chicago-based Northern Trust has named Paul Guilbert as the new head of its Jersey office.
In his new role Mr Guilbert will oversee all aspects of service delivery to clients who receive offshore fund administration support from the Jersey office, Northern Trust said in a statement. He is also charged with growing the depth and breadth of the bank’s Global Fund Services business in Jersey.
- January 14, 2010 - Northern Trust Appointed By FF&P AM For Custodian, Fund Administration
FF&P Asset Management, part of the Fleming Family & Partners Group which has its roots as a venerable multi-family office, has appointed Chicago-based Northern Trust to provide custody and fund administration services – including fund accounting and transfer agency – for around £1 billion ($1. 6 billion) in assets.
FF&P Asset Management said in a statement that Northern Trust had been chosen after a rigorous selection process on the basis of the bank's expertise and capabilities in supporting its core requirements.
- January 5, 2010 - Executive Moves - December 2009
North America
Northern Trust has founded a new leadership team for its personal financial services operations in the Midwest. The team will be led by David Blowers, who will function as president and chief executive officer, overseeing all wealth management operations in more than 20 Northern Trust offices throughout the Midwest. Prior to his new appointment, Mr Blowers was president of personal financial services for the firm’s Illinois operations.
- December 21, 2009 - Switzerland Is Still Key For Middle Eastern Clients
The preponderance of oil-rich states in the Middle East region means that the region has long been associated with abundant wealth at both a sovereign and individual level. As such, wealth management firms rightly view the Middle East’s high net worth individuals as a key market segment and have developed tailored offerings for these clients accordingly. The growth of Islamic finance has been well noted, but aside from the increase in Shariah-compliant products and services there are now several other key trends emerging concerning Middle Eastern clients, as John Craig, business development.
- December 17, 2009 - Northern Trust Launches Euro Bond Fund
Northern Trust Global Investments has launched a European bond fund for institutional investors.
The Dublin-domiciled Euro Government Inflation-linked Bond Fund tracks inflation-linked government bonds, benchmarked against the Markit iBoxx EUR Sovereigns, EUR Inflation-linked ex-Italy, ex-Greece index.
The aim of the UCITS fund is to hedge inflation without taking on the credit risk associated with exposure to lower-rated countries.
- November 25, 2009 - Northern Trust Enhances Investment Monitor Tool
Northern Trust announced this week that it has launched new compliance monitoring functions for clients investing in hedge funds.
Under the Northern Trust Hedge Fund Monitor, clients can draw up criteria to track how well diversified their portfolios are, liquidity risk, performance and investment strategy, the firm said in a statement.
The Chicago-headquartered bank said the enhancement to its monitor product is the latest to have been made since it went live in January last year.
- November 19, 2009 - Northern Trust, Equipos Partner On Client Reporting
Chicago-based Northern Trust has entered a partnership with client reporting and marketing communications firm Equipos to provide investment operation outsourcing clients with a range of new client communication capabilities.
With investors still smarting from losses incurred during the financial crisis, improved client reporting remains a hot topic. During what are still uncertain times clients are now more than ever demanding comprehensive and timely data on their investments, and wealth managers are increasingly viewing cutting-edge reporting practices as a means to differentiate.
