Dave Sauvarin has assumed responsibility as managing director of Northern Trusts’s Jersey office. Sauvarin, who was most recently head of Northern Trust’s UK listed real estate administration team in Guernsey, replaces Paul Guilbert, who has been appointed as head of private equity in Guernsey.
In his role, Sauvarin is responsible for managing Northern Trust’s Jersey office, which provides specialist services and expertise for a range of traditional and alternative assets including real estate, private equity, infrastructure funds, hedge and fund of hedge funds administration.
During a 15 year career with Northern Trust, Sauvarin has had broad experience across risk management and fund administration. In 2006 he moved into Northern Trust’s real estate fund administration operations, assuming responsibility for teams specialising in commercial real estate investment, stock exchange listings and real estate product development and projects. He will report to Paul Cutts, who was recently appointed as country head for the Channel Islands.
“Guernsey and Jersey are both leading international funds locations and offer unique opportunities for promoters of both conventional and alternative funds,” says Paul Cutts, Country Head Channel Islands. “As head of the Jersey office, Dave will leverage his broad experience to build on Paul Guilbert’s contribution to the Jersey office. Paul meanwhile will return to Guernsey in a key strategic role to lead our dedicated Guernsey private equity administration business which, with private equity funds with committed capital of USD47.8 billion under administration, is Northern Trust’s largest global private equity asset servicing centre."
Guilbert joined Northern Trust in 1997 and has worked extensively across the private equity industry. In his new role, he is responsible for managing Northern Trust’s dedicated private equity fund administration team in Guernsey which experienced assets under administration growth of 10 per cent in the 12 months to June 2011. He replaces Dave Sullivan who has returned to Northern Trust in Chicago. Guilbert will continue to retain his role as head of Northern Trust’s global private equity fund administration operations.
Sauvarin’s and Guilbert’s appointments follow the recently announced Lipper Results which rank Northern Trust as the largest fund administrator in Guernsey. The Lipper Results also highlight that private equity and venture capital funds now account for 46 per cent of all funds domiciled in Guernsey.