Northern Trust Global Investments Limited, the London-based subsidiary, and multi-asset class investment management business of Northern Trust Corporation has made two senior appointments within its securities lending business.
Sunil Daswani has been appointed as head of client sales and relationship management for securities lending in Europe Middle East and Africa (EMEA) and Asia Pacific (APAC). In this new position, Daswani is responsible for all securities lending client relationships outside North America. He joined Northern Trust in 2002 and has close to 15 years’ industry experience. Prior to his new role, Daswani was regional manager for securities lending in Asia and also acted as chairman of the Pan Asia Securities Lending Association (PASLA) from March 2005 March 2008.
Succeeding Daswani as regional manager for securities lending in Asia is George Trapp, who has over 20 years’ of experience in securities lending, at Northern Trust. He is responsible for addressing and evaluating securities lending initiatives in the Asia Pacific region. Trapp will also replace Daswani as Northern Trust’s corporate representative on the executive committee of PASLA. Most recently, Trapp was a senior sales and client relationship manager for securities lending in Northern Trust’s Chicago office.
Northern Trust was among the first master custodians to lend securities in 1981. Today, Northern Trust lends in 49 different equity and fixed income markets, and continues to expand into major and developing markets.
“A key element of Northern Trust’s global securities lending programme is unrivaled risk and relationship management. Our clients value our focus on maximum returns, without compromising our conservative approach to risk management which has been a particular strength in current market conditions. The wealth of experience Sunil and George bring to their roles ensures our clients continue to receive first-class service and our global securities lending business continues to grow,” says Andy Clayton, head of securities lending for EMEA and APAC, Northern Trust.