Northern Trust (Nasdaq: NTRS), has received approval from the Finansinspektionen (the Swedish Financial Supervisory Authority) and the UK Financial Services Authority to offer asset management products and services to investors across the Nordic region, directly from its Stockholm office.
This announcement shortly follows the news that Northern Trust Global Investments Ltd. (NTGI), the international asset management arm of Northern Trust, will be offering asset management solutions to clients across Benelux (Belgium, The Netherlands and Luxembourg), from Northern Trust’s Amsterdam office. It further supports the asset manager’s continuing commitment to developing its business across Europe, Middle East and Africa.
“In order to best serve our clients’ needs, we have to support them in their home market,” said John Krieg, managing director of NTGI in Europe, Middle East and Africa. “Northern Trust has a long heritage of working with some of the most sophisticated institutional funds and investment managers in the Nordics, such as AP7 for example. This local expertise will support us as we bring our market-leading global investment management products and services to the region and expand NTGI’s footprint.”
Northern Trust’s Stockholm office opened in September 2009 to offer asset servicing products and services to its Nordic clients as close to their home market as possible. Northern Trust offers relationship and account managers who speak the Scandinavian languages.
“We are delighted to now be able to offer asset management solutions, in addition to our existing custody and fund administration services, directly to Nordic investors from our Stockholm office,” said Madeleine Senior, Managing Director of Northern Trust in the Nordic region. “NTGI’s presence in Stockholm will enable us to continue to support our clients’ unique regional requirements with a broader array of solutions.”
