Northern Trust (Nasdaq: NTRS) has appointed David Wicks as head of continental Europe, subject to regulatory approval. 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.
In this newly created role, Wicks will lead Northern Trust’s business in continental Europe, working closely with Clive Bellows, head of Northern Trust’s Global Fund Services business across Europe, Middle East and Africa (EMEA). Wicks who has worked for Northern Trust in a variety of roles for 20 years, was most recently regional executive for Enterprise Operations for the EMEA 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.