Northern Trust has created a new role of head of its Institutional Investor Group for the UK, Ireland and Guernsey, naming JP Morgan’s James Wright to the position.
Wright had previously been with JP Morgan for almost 30 years.
In his new role Wright will be focused on building Northern Trust’s relationships with institutional investors and through the custodian’s asset servicing, capital markets, liquidity and data solutions.
Wright will look to lean on his experience from roles at JP Morgan which included head of asset management segment and head of investment outsourcing services.
Northern Trust said the role was built as “institutional investors, particularly asset owners, are facing significant change in light of the evolving regulatory landscape and challenging economic conditions leading to a reassessment of existing business models”.
“We understand the pressures institutional investors are facing – particularly asset owners who manage their assets in house,” said Penelope Biggs, head of IIG, for Europe, Middle East and Africa at Northern Trust.
“Our capabilities and approach to managing relationships, coupled with James’ experience in back and middle office solutions, will ensure we are well placed to support our clients’ strategic aspirations and practical business needs.”