Northern Trust extends capabilities with Depotbank Licence
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Northern Trust extends capabilities with Depotbank Licence 15 June 2021Switzerland Reporter: Maddie Saghir
Image: Boris Stroujko/adobe.stock.com
Northern Trust Switzerland has received regulatory approvals to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in the Swiss market.
As part of this, Marco Wiegmann has been appointed head of the new Depotbank with responsibility for Swiss custodian, depositary and transfer agency services within the Depotbank.
Wiegmann joined Northern Trust Switzerland in September 2020 from RBC Investor & Treasury Services.
This latest development is in line with Northern Trust’s continued commitment to growing its continental European footprint bringing new capabilities to the local market.
Wim van Ooijen, head of Northern Trust in Switzerland, says: “We’re pleased to continue to expand our local capabilities, demonstrating our commitment to this strategically important market.”
“This key milestone in our growth strategy supports our important client franchise, which includes some of the world’s most sophisticated asset owners and asset managers, and consolidates our position as a premier asset servicing partner in Switzerland.”
Clive Bellows, head of global fund services for Europe, the Middle East and Africa at Northern Trust, comments: “Our new capabilities in Switzerland are a further landmark in our long-term depositary growth strategy and underscore Northern Trust’s continuing strategic focus on building our business across continental Europe, strengthening our position as a market leader in offering innovative asset servicing solutions to clients across the region.”
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Image: Boris Stroujko/adobe.stock.com 