EUROPE – Mark Austin, the former business manager for Europe, the Middle East and Africa at JP Morgan's Worldwide Securities Services arm, has joined Northern Trust.
He will be a senior vice president at the Chicago-based custody bank. “He has joined relationship management on the asset servicing side,” said a Northern spokeswoman. “He will manage the international relationship management team.”
He would also oversee pooling integration. IPE reported in February that he had left.
Austin’s departure from JP Morgan came around the time it recruited the Bank of New York's UK pensions head Benjie Fraser.
Last week Northern Trust disclosed that custody assets were up 19% to $3.1trn while assets under management rose 11% to $653bn. Northern reported a 17% increase in net income to $163m, with revenue up 20% at $743m.
“Exceptional growth in both our private client and institutional businesses was a major contributor to these results,” said CEO William Osborn.
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