NETHERLANDS - Northern Trust Global Investments' Dutch operation is looking for a new head of institutional asset management sales, following the resignation of Heico de Boer.

De Boer, one of the key staff at the Amsterdam-based business which only opened in March last year, has left the company to join First State Investments in London, a spokeswoman confirmed.

NTGI, the asset management arm of Chicago-based banking company Northern Trust, had tapped De Boer, a Dutch national, from State Street Global Advisors in 2004 to develop the firm's Dutch business.

"He has resigned but he will be with us until around the middle of May," a spokeswoman for the company told IPE today.

She added the company is currently looking for his replacement.

NTGI opened the Amsterdam office last year to service its Dutch clients, mainly institutional investors, locally.

Northern Trust currently has €58bn in assets under custody for Dutch clients and €1bn in assets under management for Dutch institutional clients.