Northern Trust Names Head of Continental Europe and Announces Creation of EU Bank. The appointment underscores Northern Trust’s continued strategic focus and growth across the region. Additionally, Northern Trust will create an EU-banking presence in Luxembourg, further establishing its commitment to the region.
Wicks will be responsible for developing strategy, regulatory oversight and governance and will oversee client relationships in Northern Trust’s Institutional Investor Group. He will report to Teresa Parker, president, Northern Trust, EMEA.
“The creation of our EU banking presence in Luxembourg, which will fall under David’s leadership in his new role, highlights our commitment to growing our business in continental Europe,” said Parker. “David’s strong client focus, in-depth knowledge of our business operations and strategic objectives will help continue to ensure we are well placed to support our clients’ requirements.”
Northern Trust has an established network of offices across continental Europe – in Amsterdam, Frankfurt, Luxembourg and Stockholm. 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.
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 and establish Northern Trust as a top 10 asset servicing provider in terms of assets under administration in Luxembourg.
Northern Trust offers a comprehensive range of asset servicing and asset management solutions to institutional investors and investment managers from its 10 offices across EMEA.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2017, Northern Trust had assets under custody of US$7.1 trillion, and assets under management of US$1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures.