NORDIC – Northern Trust has named Allan Nedergaard as vice president of Nordic business development for its institutional custody and asset servicing business.

It said Nedergaard, who joins from Danske Bank, would be based in London and report to Anne-Lise Winge, who is head of European business development.

Nedergaard was at Danske for 20 years, most recently as head of sales and client relations in its securities services division.

Winge said: “We are very excited that Northern Trust has been able to attract someone of Allan's calibre.

The Nordics is a region of strategic importance to Northern Trust and Allan's expert knowledge of the market will be of great benefit to us as we focus on continuing to provide innovative solutions to this sophisticated client base.”

Earlier, the company named Sarah Hurst as senior relationship manager to its European multi-national client services team. She joined from the Bank of New York.

Yesterday Chicago-based Northern Trust launched a product that allows multinational companies to “commingle” US pension assets with non-US assets.