Northern Trust opens Seoul office

FSC/chief-executive/chairman/

29 January 2015
| By Staff |
image
image
expand image

Major custodian, Northern Trust has opened a representative office in the South Korean capital, Seoul as part of an Asia-Pacific expansion strategy. 

Announcing the move this week, the company said the office opening had followed its receipt of approval from South Korea's Financial Services Commission (FSC) in September 2014. 

Commenting on the expansion, Northern Trust chairman and chief executive, Frederick Waddell said it supported the company's continuing expansion of its solutions to institutional clients in South Korea. 

"South Korea is one of the world's fastest growing economies," he said. "Having a local presence in this dynamic market is also part of our strategy of supporting our clients as close to their home market as possible, as well as being part of the local business community." 

Waddell noted that the Asia-Pacific was the fastest-growing global region for Northern Trust, with assets under custody growing at an annual rate of 13 per cent from 2009 through 2014

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks 1 day ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

3 weeks ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 6 days ago

TOP PERFORMING FUNDS