Northern Trust has named Marc Mallett manager of Investment Operations Outsourcing product in the Americas, a new role created to address the growing demand for middle office services by investment managers seeking to control costs while pursuing asset growth globally.
Mallett will work closely with Les Beale, manager of Investment Operations Outsourcing product in EMEA (Europe, Middle East, Africa) and Asia-Pacific, to respond to the evolving needs of clients by leveraging Northern Trust's global operating model and delivering a single product approach for investment managers across regions.
"Investment Operations Outsourcing is appealing to managers who are focused on reducing costs and growing revenue while meeting demands for more and improved data and dealing with increasingly complex investments and regulations," said Paul Fahey, Head of Product and Strategy for Global Fund Services at Northern Trust. "Marc brings an in-depth knowledge of our current product offering, and a broad market perspective from his years of experience in the investment management industry."
Mallett has been global head of client implementations for Investment Operations Outsourcing since joining Northern Trust in 2010. Prior to joining Northern Trust, Mallett spent 15 years in numerous leadership positions for investment management, technology and consulting companies. Among these, he was a vice president of Technology at Fidelity Investments, responsible for developing and executing technology strategy for equity portfolio managers and research analysts, and chief operating officer of Citisoft, a consulting firm focused on the investment management outsourcing market.
Global Fund Services at Northern Trust provides custody, fund administration, and investment operations outsourcing solutions to investment managers worldwide and across the spectrum of asset classes. Investment Operations Outsourcing is a growing business for Northern Trust, as investment firms see the value of a specialist provider that is committed to this business with a global operations platform and expertise in markets around the world.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2012, Northern Trust had assets under custody of US$4.8 trillion, and assets under investment management of US$758.9 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.
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