Northern Trust opens rep office in KL
25 February 2014
Category: News, Asia, Malaysia
By David Macfarlane
Northern Trust has opened a Malaysia representative office to support its current institutional clients and develop its businesses there.
The representative office, in Kuala Lumpur, which was officially opened on February 25, will be led by Chief Representative Ariani Rustam, who has joined Northern Trust after 12 years at the Bank Negara Malaysia, where she had been a senior executive in risk management, operations, quantitative analytics and, for the last five years, was manager of the external fund management division.
Explaining why the firm have to decided to open the rep office, Teresa Parker, head of the Asia-Pacific region for Northern Trust, said: “We’ve seen an increasing demand for custody and related services as Malaysia continues to thrive economically. The asset pools in Malaysia have grown considerably and large institutional investors are increasingly investing cross border and going into asset classes outside traditional bonds and equities. So their needs for the sort of services that Northern Trust provides has grown considerably as a result.”
“Malaysia is a dynamic country with a growing economy and increasing global investment, presenting an opportunity for growth in the services that we offer to large, sophisticated institutional investors,” added William L Morrison, president and chief operating officer of Northern Trust. “We are pleased to establish a local presence that will enable us to provide a better client experience and increase brand awareness in this important market.”
Northern Trust has provided global custody and related services to Malaysian clients since 2009, leveraging its global operating model with centres of expertise in Singapore, Bangalore, London and Chicago. As chief representative in Malaysia, Ms. Rustam will coordinate relationship building in key financial segments such as sovereign entities, government agencies, pension funds and insurance funds.
“Ariani Rustam’s experience in Malaysia’s financial system and her expertise in global investing and operations will be valuable to Northern Trust and our clients as we collaborate to further develop Malaysia as a financial hub,” explained Ms. Parker.
William Mak, Singapore country manager and head of Southeast Asia for Northern Trust, added: “Malaysia is a pivotal growth market for Northern Trust’s expansion in Asia Pacific and we are delighted to open this office under Ariani’s leadership.”