Northern Trust has hired Jonathan Titone, a senior network management and securities lending expert, as a global market consultant.
Titone joins the custodian in New Jersey after serving almost four years at the National Bank of Abu Dhabi (NBAD), most recently as head of product development.
During his time at NBAD he spearheaded the bank’s securities lending initiative, where it became the first bank to operate as a securities lending and borrowing agent for the United Arab Emirates.
Prior to that, he served as head of network management for Europe, Middle East and Africa (EMEA) for Brown Brothers Harriman.
Northern Trust will aim to use Titone’s expertise in the Africa and Middle East region to boost its network management position in the two regions.
Within the Sub-Saharan and Middle East region, Societe Generale, Standard Chartered, Standard Bank and HSBC stood out as the dominant providers of sub-custody in Global Custodian’s Africa survey.