Northern Trust has tapped a former private equity fund administration executive from BNY Mellon to lead sales for its North America practice.
Robert Mullally joins Northern Trust to lead business development for the North America private capital administration business.
He will focus on building relationships with managers of funds with closed-ended capital structures across private equity, private debt and real estate markets.
“Robert’s combination of sales and operations experience in the alternative asset industry makes him particularly well suited to help clients navigate the decision to outsource private capital fund administration, whatever their unique needs may be,” said Kimberly Evans, head of private capital administration, North America, Northern Trust.
“His hiring underscores our commitment to growing our business and to providing flexible, proactive and individualised service to clients within the alternative asset industry.”
Mullally joins from BNY Mellon where he was previously a vice president within the private equity and real estate fund administration.
His hiring follows the appointment of Evans in January to lead the newly created private capital administration practice.
Northern Trust’s alternative fund services unit, a combination of its hedge fund and private equity fund administration businesses, provides fund administration, accounting and data and analytical solutions to more than 100 private equity managers across the globe.
Last month, Northern Trust sold the intellectual rights to its private equity blockchain platform to Broadridge. Clients of Northern Trust will continue to use the DLT platform for private equity middle-office and lifecycle functions such as capital calls, investments, divestments and distributions.