UK - Northern Trust has appointed Paul Chapman as senior vice-president and head of global fund services relationship management.
Chapman joins the custody giant from rival State Street, where he was senior vice-president in strategic development for the firm’s UK-based investor services business.
At Northern Trust, Chapman will report to head of business development and global fund services Penelope Biggs.
Chapman has been in the industry for 17 years, and prior to his time at State Street spent 11 years at Brown Brothers Harriman, where he was head of investor services and managing director of the trustee company.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.