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Northern Trust first opened an office in Luxembourg in 2004 and has since provided an extensive range of investment management and asset servicing solutions to clients. The acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland in October 2017 expanded Northern Trust’s scale in Continental Europe, enhancing its capabilities and increasing its client base. The acquisition positioned Northern Trust as a top 10 asset servicing provider in Luxembourg.
A strategic expansion across Europe
At the time of the acquisition, Teresa Parker, President, Europe, Middle East and Africa region at Northern Trust, commented:
"This acquisition is a cornerstone of our strategic expansion plan for Continental Europe and represents a significant opportunity to broaden our scale, capabilities, products and market reach across Europe, enabling us further to enhance our services to existing and future clients and strengthening our position as a leader in the region.
Indeed, Northern Trust continues to go from strength to strength in Luxembourg. We now have over 300 Partners (employees) in Luxembourg across our Kirchberg and Findel offices, and due to continued business wins, we have a range of opportunities across various teams to support our growth and expansion."
A commitment to talent and diversity
"Northern Trust is an equal opportunity employer. We aim for excellence in our efforts to recruit, develop, and deploy the highest-calibre workforce. Our commitment to and success in a diverse workforce is evident in employee satisfaction and industry acknowledgement.
We welcome applications for all advertised vacancies listed on our website, which include opportunities in Fund Accounting, Transfer Agency, Alternative Assets, Depository Operations, Relationship Management, Client Services, Product Control, and Leadership roles in some areas. Additional roles will be posted over the coming week, and it takes just a moment to ensure you hear about your preferred roles in real time!"
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