Northern Trust is to open a representative office in Abu Dhabi. The Chicago-based asset manager and private bank sees this step as important in continuing to develop its asset servicing, asset management and wealth management businesses in the Middle East. Biff Bowman, Northern Trust EMEA chief executive, said: “Establishing a base in Abu Dhabi is in line with our strategy of continuing to expand across the EMEA region and key to Northern Trust’s objective of serving clients as close to their home market as possible.” Michael Slater, who joined Northern Trust in 2005 to lead the asset servicing business development programme in the Middle East, has been named chief representative of the Abu Dhabi office. In his new role, he will oversee Northern Trust’s business development initiatives across its three main business areas, focusing on the six Gulf Co-operation Council countries. He said: “Each of the GCC countries needs to be considered individually, however, together they represent a sophisticated, dynamic market place. We see funds increasingly investing globally and implementing global best practice both in how they invest and administer their assets.”