Northern Trust Creates Middle East Head Role

Eliane Chavagnon

15 May 2012

Chicago’s Northern Trust has brought in Sheldon Woldt to serve as head of the Middle East – a newly-created role in which he will lead business growth in this region.

Woldt will also work with Europe, the Middle East and Africa regional management, drawing on the firm’s asset servicing, asset management and wealth management expertise, the firm said in a statement today.

As part of his appointment, Woldt will transfer from Chicago to Abu Dhabi, reporting to Penelope Biggs, head of the institutional investor group for EMEA.

On a local scale, the firm said he will work alongside Michael Slater, head of the Abu Dhabi office, and Kais Abbas, head of investment business development.

During his 30-year tenure with the organization, Woldt has held roles in banking operations, financial analysis and client relationship management in commercial lending, in addition to treasury management, investment management and global custody. Most recently, he was head of the US insurance client business.

In other significant developments, Christopher Benson has joined Northern Trust’s Denver, CO office as a senior investment consultant, reporting to Agnes Ryan, manager of private client services.

Before relocating to Denver earlier this year, Benson served as a senior investment consultant and portfolio manager within the firm’s Boca Raton, FL office for five years.

Earlier, he worked for Wachovia Wealth Management and First National Bank and Trust, where he managed investment portfolios for institutional and high net worth individuals, as well as serving on numerous investment policy committees.

Northern Trust has offices across 18 US states, as well as having 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region.

The firm had $4.6 trillion in assets under custody, with $716.5 billion in assets under management, as at 31 March.