People Moves
New Asia-Pac Managing Director Named At Northern Trust
Northern Trust has named a new managing director for Asia-Pacific asset management business.
Bo Kratz brings over 20 years financial services experience to his new role, previously working for Permal and ABN Amro Asset Management (Asia) in Hong Kong and Singapore. In his new capacity, he will lead the $50 billion Asia-Pacific asset management team, which covers sovereign wealth funds, government entities, pensions and corporations in the region, excluding Japan.
He reports functionally to Wayne Bowers and locally to Teresa Parker, the chief executive for Asia-Pacific at Northern Trust.
In its statement, Northern Trust said that Asia-Pacific is its fastest growing global region, with AuM growing 157 per cent from 2007 to 2011 and assets under custody rising 9 per cent annually during the same period.
The firm is a wholly-owned subsidiary of US-based Northern Trust Corporation, which records $749.7 billion in assets under management as of 30 September 2012.
