Northern Trust Continues Busy Summer Of Senior Appointments

Tom Burroughes

19 July 2017

, which is due to publish its second-quarter results today, continued a run of high-level appointment announcements of recent days by naming David Wicks as head of continental Europe. The role, which is newly created, is subject to regulatory approvals.

The Chicago-headquartered bank also said in a statement it will create a European Union banking presence in Luxembourg which it said further establishes its presence in the region. The group already has offices in the UK, Netherlands, Sweden and Germany.

Wicks has worked in a variety of roles at Northern Trust for 20 years; most recently he was regional executive for executive operations in Europe, Middle East and Africa.

In his new role Wicks will leads the firm’s business in continental Europe, working alongside Clive Bellows, head of Northern Trust’s Global Fund Services business across EMEA. He will report to Teresa Parker, president, Northern Trust, EMEA.

Steve David, country head, Luxembourg; and Wim van Ooijen, country head for Switzerland, Germany and (in the interim) the Netherlands, will continue to report functionally to Bellows. Bo Thulin, head of the Nordic region will report functionally to Wicks, the bank said.

Northern Trust’s acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland, expected to close later this year, subject to applicable regulatory and fund board approvals and other customary closing conditions, will also bring Northern Trust a new European office in Basel. That development will establish Northern Trust as a top-10 asset servicing provider in terms of assets under administration in Luxembourg, it said.

In recent days, Northern Trust has unveiled a variety of appointment, such as that of Stephen N Potter as vice chairman, a newly-created position. Potter has been president of Northern Trust Asset Management. Taking over his old role is Shundrawn A Thomas, currently head of the funds and managed accounts group. Both appointments take effect from October 1.

In a separate announcement, the bank made a series of senior appointments across its institutional client service and business development teams around the globe. (See here.)