The financial services provider said the opening of its Manila office will support processing and back-office functions for its global clients.
“We are pleased to establish our office in Manila, expanding our global operating centres of excellence and offering our clients increased support in their time zone,” Northern Trust chairman and chief executive Frederick Waddell said.
Northern Trust has appointed Paula Kenee to head the new Manila office. Ms Kenee previously worked in the role of chief operations officer for Northern Trust Asset Management across Europe, the Middle East and Africa.
The opening of Northern Trust’s Manila office follows on from the firm's announcement earlier in 2014 that it had opened an office in Seoul, South Korea, and one in Kuala Lumpur, Malaysia.
“[The] Asia Pacific is the fastest-growing global region for Northern Trust, with assets under custody growing at an annual rate of 25 per cent from 2008 through 2013, and assets under management growing by more than 15 per cent annually over that five-year period,” a statement from Northern Trust said.
