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Northern Trust names Biggs as London head

UK - Northern Trust Co. has appointed Penelope Biggs to the new position of head of institutional custody, fund administration and asset servicing in Europe, Middle East and Africa.

The role has been so far covered by the group’s head of the international market segment, Stephen Potter, explained a spokesman.

In her new capacity, Biggs will also act as general manager of the company’s London branch, which had been Potter’s responsibility. She will report to Potter, who said the appointment was “ the opportunity to elevate and promote local talent”.

Before taking up the new post Biggs, who joined Northern Trust in 1996, used to head its international sales and global fund services.

“Penelope will have direct responsibility for all strategic, tactical, business development, marketing and relationship management activities undertaken by the bank’s corporate and Institutional services unit in the region”, Northern Trust said.

Potter also pointed out that the appointment was the direct result of the “continued rapid growth” of the company’s European business and the “increasing importance and complexity” of its international businesses.

It reflected Northern Trust’s “commitment to London” as its international base of operation.

“These two new assignments for Penny are richly deserved and I am delighted that we have been able to recognise her hard work and dedication”

The Northern Trust Co. is the principal subsidiary of Northern Trust Corp., which has 2.3 trillion dollars (1.9 trillion euros) in assets under administration and 521 billion dollars in assets under management.

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