Northern Trust names new funds chief
Wayne Bowers confirms his status as a rising star in the US investment manager
Northern Trust Global Investments Limited, the non-US funds arm of the Chicago banking group, has appointed Wayne Bowers as chief executive, marking his second promotion in seven months.
The London-based investment management company, which managed more than $750bn (€482bn) in assets at the end of last year, formally announced Bowers' elevation to its top role in a statement today.
He has been acting chief executive since December, after being promoted from head of fixed income to international chief investment officer in September last year. He has worked for the company since 1999.
The previous full-time chief executive of Northern Trust Global Investments Limited, William Huffman, resigned citing personal reasons in August last year.
In his new role, Bowers will oversee the growth and development of Northern Trust's investment management business in Europe, the Middle East, Africa and the Asia-Pacific region. He will report to Steve Potter, global head of Nothern Trust's asset management arm.
Potter was promoted to his current role last week after leading Northern Trust's international business for six years. He now reports to Northern Trust president and chief executive Frederick Waddell and will relocate from London to Chicago.
Biff Bowman, Northern Trust Global Investments' head of client servicing for the Europe, Middle East and Africa institutional investor group, will replace Potter as head of emea. Bowman in turn will be replaced by Teresa Parker, NGTI chief operating officer for emea.
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