The Chicago-headquartered banking group has appointed new leadership in the Nordics.

Northern Trust has hired Bo Thulin from JP Morgan to lead its Nordic business.

Thulin joins from JP Morgan, where he was most recently head of the bank’s investor services business in Sweden and Norway. Over his career of more than 30 years, he has held several managerial roles in sales, relationship management and product development.

In his new role, Thulin will be responsible for driving the growth and development of the group's asset servicing and asset management business across Sweden, Finland, Norway and Denmark. Based in Stockholm, he will report to Penelope Biggs, Northern Trust's head of the institutional investor group for Europe, Middle East and Africa. 

Thulin replaces Belinda Burgess, who will take up a new role on 1 December. Northern Trust will communicate the details of Burgess's new role in due course.

“Since opening our Stockholm office in 2009, we have seen a 60 per cent rise in assets under custody and a 400 per cent rise in assets under management, and under Bo’s leadership will continue this momentum, working with our clients to deliver tailored solutions that meet their needs,” said Biggs.

The new hire follows that of Hazel McNeilage, who joined Northern Trust's asset management arm last month as managing director for the EMEA region.

Northern Trust had assets under custody of $6 trillion and assets under management of $887 billion as of the end of September.