CUSTODY

Northern Trust hires new Netherlands head from BlackRock

Herman Prummel will lead business development, sales and client activities for Northern Trust’s asset servicing business in the country.

By Joe Parsons joe.parsons@strategic-i.com October 11, 2017 1:57 PM GMT

Northern Trust has appointed a former chief operating officer (COO) from BlackRock to lead its Netherlands business.

Herman Prummel joins as country head for the custodian for the Netherlands where he will be responsible for business development, sales and client activities for Northern Trust’s asset servicing unit in the country.

He succeeds Wim van Ooijen who was picked to lead the custodian’s business in Switzerland, after it completed the acquisition of UBS Asset Management’s fund administration units.

Prummel joins from BlackRock where he was COO for the asset manager in the Netherlands, Nordics and Isle of Man.

“The Netherlands continue to be a key market for Northern Trust and Herman’s deep regional market experience will ensure we continue to meet the unique needs of our Dutch clients,” said David Wicks, head of Continental Europe, Northern Trust (subject to regulatory approval).

Northern Trust has made a significant push into Continental Europe over the past couple of months. In July it applied for an EU-banking license and to set up an office in Luxembourg, and earlier this year announced it will create 400 new jobs in Ireland.