Northern Trust has created and filled five new senior positions across Europe in order to support European fund managers implementing the Alternative Investment Fund Managers Directive (AIFMD).
The bank will now be able to offer depository services in the UK and the Netherlands, in addition to its existing services in Ireland, Luxembourg and the Channel Islands.
To kick-start European expansion, the bank has hired John Cargill as head of depository services, EMEA, where he is responsible for managing a team of specialists located across Northern Trust’s European offices.
Cargill joins Northern Trust from HSBC, in London, where he was most recently head of trustee and fiduciary services.
Based in London, he reports to Glaysher.
Reporting to Cargill are Alastair Hay, Stefan de Kort and Stephen Baker. Hay has been appointed as head of depositary services, UK. He has been working with Northern Trust in London since January this year supporting its strategy around AIFMD and depository expansion.
Prior to this, he was head of NatWest’s trustee and depository services division.
Leading the expansion of Northern Trust’s dedicated depository services offering in the Netherlands is Stefan de Kort.
In his role as head of depository services Netherlands, he is responsible for supporting Northern Trust’s Dutch fund manager clients as they implement AIFMD and other regulations affecting their business and underlying investors.
De Kort joins Northern Trust in Amsterdam from RBC Investor Services, where he was most recently located in Luxembourg and responsible for offering client solutions for Luxembourg offshore funds.
De Kort is supported by Margot Six who joins Northern Trust from Bouwfonds Real Estate Investment Management, part of the Rabobank Group, where she was senior legal counsel.
As head of operations for depository services, EMEA, Stephen Baker will be responsible for ensuring the overall operational management of Northern Trust’s depository services group in EMEA, from his Limerick base.
Baker joined Northern Trust following its acquisition of Bank of Ireland Securities Services (BoISS) in 2011, where he was head of custody servicing.
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