Northern boosts European transition management
EUROPE - Northern Trust Global Investments says it has former Instinet executive Simon Hutchinson as strategist for transition management in Europe.
It said: “His remit is to manage NTGI’s transition management business in London and to continue to build the firm’s transition management business across Europe.”
He takes over from Kevin Hardy, who has been named global head of transition management. Hutchinson reports to Hardy and Nick Ring, managing director of NTGI Europe.
The firm said Hutchinson joins from online broking firm Instinet, where he was most recently head of UK clients and portfolio trading.
“Transition management remains one of NTGI’s core service offerings to the institutional market place and, as such, the firm continues to invest in new people and technology as part of its growth strategy,” Hardy said.
He added that in the first half of 2004 the firm increased the total assets it “transitioned” by 20% compared to the total figure for 2003. “We look forward to continued growth over the second half of 2004 and beyond.”
Separately, Instinet named Tony Mackay as head of international equities at Instinet Europe. A spokeswoman said he would assume Hutchinson’s responsibilities.
The firm has also hired Takeshi Murakami as president and Tokyo branch manager – he was formerly director of pension account management at Schroder Investment Management (Japan) Ltd.