Northern Trust Corporation is expanding its middle office outsourcing service with a brand new position..
The Chicago-based company announced today the appointment of Marc Mallett as head of investment operations outsourcing for the Americas.
Mallett, who has been with Northern Trust since 2010, will work closely with Les Beale, manager of investment operations outsourcing product in Europe, Middle East, Africa and Asia-Pacific. He previously served as global head of client implementations for investment operations outsourcing. Prior to Northern Trust, Mallett was a vice president of technology at Fidelity Investments.
"Investment operations outsourcing is appealing to managers who are focused on reducing costs and growing revenue while meeting demands for more and improved data and dealing with increasingly complex investments and regulations,” said Paul Fahey, head of product and strategy for global fund services at Northern Trust.
Northern Trust manages $758.9 billion in assets as of Dec. 31, 2012.