Northern Trust said it named William Mak head of the Asia-Pacific region, succeeding Teresa A. Parker, who will take on a strategic role at the company’s headquarters in Chicago.
Mak has been Singapore Country Manager and head of South East Asia region since joining Northern Trust in July 2010. A Singapore native, he has more than 25 years of experience in the region’s financial services industry, including government and corporate entities. Parker has been head of Asia-Pacific since August 2009, coming to the region from senior leadership posts in the London office.
"Northern Trust's business in the Asia-Pacific region has expanded dramatically over the past five years, with assets under custody increasing by 14 percent and assets under management growing by 11 percent on a compound annual basis during that period,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “William Mak’s experience and market knowledge in global custody, asset servicing and asset management make him a valuable leader who is well positioned to maintain our organic growth and strong client relationships in this region.”
Prior to joining Northern Trust, Mak was with BNY Mellon, ABN AMRO, and the Monetary Authority of Singapore in the Monetary and Reserve Management Division, where he spent 16 years. As head of Asia-Pacific he will lead almost 3,600 Northern Trust employees in offices located in Bangalore, Beijing, Hong Kong, Kuala Lumpur, Melbourne, Singapore and Tokyo.
Parker, who joined Northern Trust in 1982, has held leadership positions in global custody operations including serving as the head of worldwide asset servicing, securities lending and chief operating officer for Europe, Middle East and Africa. In June, she will relocate to Chicago to serve as a strategic advisor to Corporate & Institutional Services President Steven L. Fradkin and his leadership team.
“Under Teresa Parker’s leadership, the Asia-Pacific region achieved strong business growth in tandem with significant investment by Northern Trust, as we increased our employee base in the region by 84 percent,” Fradkin said. “Along with his strong knowledge of markets across the Asia Pacific region, William brings a record of stewardship, an ability to develop client relationships and a focus on employee engagement and talent development to the role. Teresa, William and the rest of our team will work closely to ensure a smooth transition for our clients, partners, and regulators over the coming months.”
