Northern Trust has opened a branch office in Stockholm and has appointed Madeleine Senior as managing director of the Nordic region.
"Northern Trust has been servicing clients in the Nordics for close to 20 years and works with some of the most sophisticated premier institutional funds and investment managers in the region," says Biff Bowman, chief executive of Northern Trust in Europe, Middle East and Africa. "Establishing this base for Northern Trust in Stockholm is in line with our strategy of serving our clients as close to their home market as possible."
Senior, who joined Northern Trust in 1994, will oversee all Northern Trust’s activities across Norway, Finland, Sweden and Denmark.
"I’m delighted to be spearheading this opportunity," says Senior. "We go where our clients want us to be, and particularly in the current climate, our clients want close access to their custodian."
In 2004, Northern Trust became one of the first non-Swedish banks to provide custody and related services to a Swedish mutual fund through an innovative partnership with Handelsbanken.
"It is important to appreciate the local expertise that local banks and institutions have," says Senior. "Our long and successful relationship with Handelsbanken has enabled us to provide tailored solutions to our Nordic clients over the past six years. Now, with our local base in the region, we are well positioned to continue to provide tailored solutions to meet our Nordic client’s specific requirements but we are also able to further engage and develop with our clients."
Northern Trust currently has a team of five people serving Nordic clients from its Stockholm office with over 30 others in London supporting Nordic relationships.
