Northern Trust has appointed Dane Fannin as global head of securities lending, relocating him from Hong Kong to Chicago for the role.
His previous position of head of capital markets for APAC will be taken up by Mark Snowdon, who was responsible for Northern Trust’s regional securities lending sales and relationship management team prior.
Fannin will take up the role on 1 January 2019, reporting to Michael Vardas, global head of Northern Trust Capital Markets.
“Securities lending has a critical role to play in optimising performance for asset managers, and asset owners, across their investment programmes,” said Vardas. “In today’s increasingly complex and uncertain investment environment, forward-thinking firms are able to do this whilst operating within client-specific guidelines and risk management parameters. Dane, through his global experience, will lead the development, expansion and innovation of Northern Trust’s securities lending capabilities for our global clients.”
Fannin joined Northern Trust in London in 2006 before moving to Hong Kong after a year. In September 2015 he took on the role of head of securities lending for APAC, before taking the head of capital markets APAC role after nine months.
Northern Trust said he will be working closely with Andy Clayton, head of capital markets for Europe, Middle East and Africa.
“The Asia-Pacific region is an important area of growth for Northern Trust,” said William Mak, head of Northern Trust in APAC. “As markets in the region continue to seek innovative Capital Markets products, we see significant opportunity to bring our customisable capabilities to the region. Mark, through his experience and understanding of our client needs is well-placed for this leadership role.”