Northern Trust appoints new country head to lead Ireland business

Ireland has become a key focus for Northern Trust after it opened its second office in the country in 2017, and has since grown the employee base to 1,500.

By Joe Parsons

Northern Trust has appointed one of its most senior Irish executives to lead the custody and fund administration businesses in the country.

Melíosa O’Caoimh was named country head for Ireland in March, succeeding Clive Bellows, who was appointed head of global fund services for EMEA in late 2018.

She will be responsible for all asset servicing activities conducted from Northern Trust’s Dublin and Limerick office.

Ireland has become a key focus for Northern Trust since the UK announced its planned departure from Europe. In 2017, it said it plans to add 400 new jobs upon the opening of its Limerick office, as well as plans to increase its headcount in the country by more than 1,000.

“Ireland has long been central to our growth in Europe and we are delighted to appoint Melíosa to lead this business as we take the next step in our journey,” said Bellows.

“As the clients serviced by our more than 1,500 employees in Ireland continue to evolve in sophistication and scale, Melíosa’s knowledge, vision and leadership will be instrumental in guiding our business – and our clients’ – through future years of growth and opportunity.” 

O’Caoimh joined Northern Trust in 2003 and has held several senior roles, including head of relationship management and chief operations officer for Ireland. She was also European head of transfer agency operations for Pioneer Global Investments for eight years.

Northern Trust has won a number of key mandates in Ireland so far in 2019, including a fund services mandate for a newly launched sustainable fund by Osmosis Investment Management, and an asset servicing and trading solutions deal with AD Global Investors for the launch of four new UCITS funds.