Northern Trust has appointed George Hindmarsh as head of Asia Pacific business development, with responsibility for leading the company’s growth in asset servicing for corporations, sovereign wealth funds, central banks, government entities, superannuation funds, asset managers and other institutional clients in the region.
Hindmarsh has 15 years of banking industry experience and joins Northern Trust from Citi Transaction Services, where he was most recently director head of UK investor services product.
At Northern Trust, Hindmarsh will oversee a regional sales team for corporate and institutional services with members based in Singapore and Australia, and report to Teresa A. Parker, chief executive officer for the Asia Pacific region.
“George Hindmarsh has a record of creating innovative solutions, developing new markets and closing landmark mandates, and we are pleased to welcome him as sales leader for the Asia Pacific region,” Parker says. “In recent years, Northern Trust has experienced substantial growth in Asia Pacific, in terms of assets and new clients, as well as the staff, products and capabilities to provide the level of service required by sophisticated investors in the region. Under George’s leadership, I am confident that our business development efforts will continue to be very successful and our strategic relationships in the region will be strengthened.”
Asia Pacific is the fastest-growing global region for Northern Trust, in terms of assets under custody, with an annual growth rate of nine per cent from 2007 through 2011. Regional staff has grown to more than 3,100 people, including the addition of investment operations outsourcing and hedge fund services teams and senior appointments in the Melbourne office.
Hindmarsh’s experience includes positions at Citi as head of the Asia sales desk, based in London, where he was responsible for securing asset servicing mandates from European financial institutions investing into Asia, and in asset servicing sales and relationship management, based in Hong Kong. Previously, he held client relationship roles for HSBC in Hong Kong and Canada.