Northern Trust has appointed Arthur Hill as senior vice president, head of product management for asset servicing, based in Chicago.
In his new role, Hill will lead product strategy and development, overseeing a global team of asset servicing product leads.
He joins with more than 25 years of experience in the financial services and insurance industry.
Most recently, Hill worked at Capgemini as senior director for its global insurance and financial services group.
In previous roles, he has led initiatives for financial services clients in the US, UK and other countries, delivering strategy, process improvement and digital enablement programmes.
“Arthur Hill brings expertise developed over a rich career of program and team management, strategic planning, execution and solution innovation that drives client experience and digital enablement,” says Paul d’Ouville, head of asset servicing product and client solutions at Northern Trust.
“We’re excited to have his multi-dimensional experience and leadership working on behalf of our clients as the business continues to drive new and innovative product capabilities in support of the whole office for asset owners and asset managers alike.”
In April, Northern Trust reported $11.5 trillion of total assets under custody for Q1 2021, marking an increase of 40 per cent on Q1 last year.
The total for assets under custody/administration was reported to be $14.7 trillion for Q1 2021 representing an increase of 36 per cent year on year.
Custody and fund administration fees came in at $446 million for Q1 2021, up 13 per cent from Q1 2020 and up 6 per cent on Q4 2020.
According to Northern Trust, custody and fund administration fees increased sequentially primarily due to favourable markets, new business and favourable currency translation.
Northern Trust also completed the acquisition of Parilux Investment Technology earlier this month.
