Northern Trust expands into the Benelux
Northern Trust, a global leader in asset management and servicing, wealth management and banking from the United States, announced in a press release that it will offer asset management solutions to institutional clients across the Benelux (Belgium, the Netherlands and Luxembourg) from its Amsterdam office. The announcement followed the regulatory approval from the Netherlands Authority for Financial Markets (AFM) and the Financial Services Authority (FSA) in the UK.
European expansion
Regulatory approval for Northern Trust's international asset management arm, Northern Trust Global Investments Ltd. (NTGI) supports its strategy to enhance business across Europe, the Middle East and Africa (EMEA).
Approval also enabled NTGI to expand products to clients across the Benelux from its current base in Amsterdam. Northern Trust has been active in the Amsterdam Area since 2006.
Easy access to attractive markets
The Amsterdam Metropolitan Area is a perfect location for companies to enhance their business opportunities to the EMEA. The Area is home to an extremely strong and internationally-oriented services sector, with NYSE Euronext as Europe’s largest cross-border exchange. Approximately 60 foreign bank branches (in addition to Dutch institutions) and over 100 international insurance companies are located in the Amsterdam Area.
The Amsterdam Area is home to hundreds of companies in the fields of legal, accounting, taxation, media, ICT, advertising, venture capital and shared services. All these companies have a pan European and innovative mindset, and therefore can facilitate European growth from a single location at competitive rates. Companies can build on this experience and avoid having to start from scratch.
"Our investment business is built around our clients' needs and we believe the best way to listen to our clients and understand their specific goals and objectives is by having experienced investment professionals in the region," said John Krieg, Managing Director of NTGI in Europe, Middle East and Africa.
Key market
Wim van Ooijen, Country Head for Northern Trust in the Netherlands adds, "The Netherlands continues to be a key market for Northern Trust and one in which we have been increasingly successful as a corporation for many years, and we are delighted to now also enter the attractive local asset management market segment from our Amsterdam office."
About Northern Trust
Before offering asset management solutions from its Amsterdam office, NTGI offered asset management solutions to clients across the EMEA from its London office for more than 10 years. These included a broad array of active, passive and quantitative investment solutions, including cash and fixed income, index and active equity management, and alternative investments.
NTGI managed assets for corporate and public pension funds, sovereign wealth funds, insurance companies, charities, central banks and other eligible professional investors. NTGI continues to service clients in more than 40 countries.
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