Stephen Potter has been appointed by Northern Trust Global Investments to take the role of president, which was vacated by Frederick Waddell. Waddell was promoted to be the CEO of Northern Trust on January 1, 2008.
Replacing Potter as EMEA (Europe, Middle East and Africa) region executive will be Biff Bowman, executive vice president and head of client servicing for the EMEA institutional investor group.
Company Press Release
CHICAGO, March 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- NTRS | news | PowerRating | PR Charts -- Northern Trust announced today that Stephen N. Potter has been appointed president of Northern Trust Global Investments (NTGI), the multi-asset class investment management business of Northern Trust Corporation.
Potter takes the reins at NTGI after leading Northern Trust's international businesses for six years, a period of rapid growth for the company in Europe and the Asia-Pacific region. He brings more than 25 years of experience as an executive and manager at Northern Trust to the $757 billion asset management unit.
"We are very pleased to have an executive of Steve Potter's caliber available to lead NTGI at a time of great opportunity for growth," said Northern Trust President and Chief Executive Officer Frederick H. Waddell. "Steve has the right combination of global markets expertise and management skill to guide our asset management organization to its full potential."
Potter's appointment will be effective immediately. He will be based in Chicago and report to Waddell. Replacing Potter as EMEA (Europe, Middle East and Africa) region executive will be Biff Bowman, executive vice president and head of client servicing for the EMEA institutional investor group. Teresa Parker, executive vice president and chief operating officer for EMEA, will succeed Bowman. Bowman and Parker are veteran Northern Trust leaders, with tenure of 23 and 25 years, respectively.
"This series of appointments demonstrates the depth of experience and talent we have developed at Northern Trust in our locations around the world," Waddell said. "Our clients in the EMEA region will be well-served by our London-based executive team and by Steve Potter's leadership of our global asset management organization."
Potter, 51, has been based in London since 2001 as head of the EMEA region, chairman and chief executive of Northern Trust Global Services, Ltd., and chairman of Northern Trust Global Investments, Ltd. He is an executive vice president of Northern Trust and sits on the corporation's Management Group.
"This is a terrific opportunity to lead this growing part of our business, with a talented staff of professionals, a strong fiduciary heritage and a client base that is the envy of the investment industry," Potter said. "With our strong track record in quantitative management and short-duration fixed income as well as multi-manager programs, and our development of exciting new investment solutions, I think our asset management business has great potential for growth in the coming years."
About Northern Trust
Northern Trust Global Investments (NTGI) is the multi-asset class investment management business of Northern Trust Corporation. NTGI comprises Northern Trust Investments, N.A., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., the investment advisor division of The Northern Trust Company and Northern Trust Global Advisors, Inc. and its subsidiaries.
Northern Trust Corporation (Nasdaq: NTRS | news | PowerRating | PR Charts ) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 13 locations in North America, Europe and the Asia-Pacific region. As of December 31, 2007, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$757.2 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.