David J. Sullivan, head of private equity administration in the Americas at Northern Trust, has taken on the additional role of head of its insurance practice in the region.
The insurance practice provides asset servicing, asset management, banking and brokerage services to insurance companies. He replaces Sheldon Woldt as head of the practice; Woldt was appointed earlier this year to a newly created position as head of the Middle East for Northern Trust.
Sullivan created the head of private equity administration role earlier this year following growing demand from U.S. private equity firms for outsourced fund administration and other third-party fund services, Northern says.
He previously served as Guernsey (Channel Islands) head of private equity for three years, and before that was a division manager in Northern Trusts Corporate Banking group. Before joining Northern Trust, Sullivan was a commercial banking officer at a Chicago bank.
We are pleased to appoint Dave Sullivan to a role where he can lead the continued development of two growing business segments, says David W. Fox Jr., head of Americas for Corporate & Institutional Services at Northern Trust. Dave has deep experience in services for asset managers, and that expertise will transfer well to the insurance segment, where companies are increasingly outsourcing their non-core operating infrastructure, including global custody, investment, accounting, and treasury services.
Sullivan has a B.B.A. from the University of Notre Dame and an M.B.A. with honors from the University of Chicago.
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