Press release
Northern Trust Switzerland Extends Capabilities with Depotbank Licence
Local Custodian, Depositary, Transfer Agency and Ancillary Services Complement Market Leading Swiss Fund Administration Capabilities BASEL,
About this update from Northern Trust Corporation
[{"type":"text","content":"\nLocal Custodian, Depositary, Transfer Agency and Ancillary Services Complement Market Leading Swiss Fund Administration Capabilities\n\n BASEL, Switzerland--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS), a leading fund administrator in Switzerland, today announced that it has received regulatory approvals to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in the Swiss market.\n\nThis latest development is in line with Northern Trust’s continued commitment to growing its continental European footprint bringing new capabilities to the local market.\n\nNorthern Trust has more than 30 years of experience in providing an extensive range of asset servicing and investment solutions to Swiss clients, and in 2017 established its presence in Basel, following its acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.\n\nWim van Ooijen, head of Northern Trust in Switzerland, said: “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.”\n\nMarco 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.\n\nClive Bellows, head of Global Fund Services for Europe, the Middle East and Africa at Northern Trust said: “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.”\n\nNorthern Trust is dedicated to serving the complex evolving needs of asset owners and asset managers across the world through an extensive range of asset servicing and investment solutions. Northern Trust has 11 offices and more than 3900 employees across the Eur...