HONG KONG - Northern Trust will begin offering index equity portfolio management services from Hong Kong after receiving regulatory approval this week.
The firm said its plans to bring indexing services to institutional clients out of Hong Kong are "intended to bring Northern Trust's asset management services closer to clients in the Asia-Pacific region".
Kevin Hardy, managing director of asset management in Asia-Pacific and country head for Hong Kong said: "The addition of not only index equity portfolio management capability but also an Asian dealing desk to our Hong Kong office continues our development of a sustainable and scalable global model for asset management, serving Northern Trust clients in every geographic region."
The firm has appointed Patrick Dwyer senior portfolio manager in the global index equity team, moving him from the firm's Chicago offices in March.
Craig Annakin has joined Northern Trust as head of Asian dealing with responsibility for setting up the new Asian dealing desk. He joined in May from Deutsche Asset Management in Singapore where he served in a similar capacity.
Wayne Bowers, Northern Trust chief executive officer of asset management for Europe, Middle East and Africa as well as Asia Pacific, said: "By building up our team locally, we can ensure that our investment solutions truly respond to the specific challenges of our large and sophisticated clients in the Asia-Pacific region."
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