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Northern Trust hires Marco Siero to lead regional sales from Luxembourg

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Northern Trust has appointed Marco Siero (pictured) as senior sales representative, Luxembourg to spearhead the company’s growth in the region.

Assets under administration in Northern Trust’s Luxembourg office have increased by 100 per cent over the past five years. In this newly created role, Siero will be responsible for further accelerating the growth of the client base and expanding the delivery of Northern Trust’s specialist fund servicing capabilities to global investors who look to leverage the benefits of Luxembourg as a fund jurisdiction.

Siero joins from RBC Investor Services in Luxembourg where he was managing director client service and solutions for Europe. He has more than 25 years of experience in the investor services industry and holds a master’s degree in Economics from the University of Amsterdam.

“Luxembourg is one of the world’s largest fund markets and Northern Trust is at the heart of this, offering the full range of asset servicing solutions across traditional and alternative asset classes to some of the world’s largest and most sophisticated asset managers and asset owners,” says Toby Glaysher, head of Global Fund Services at Northern Trust for Europe, Middle East, Africa. “We are focused on continuing to expand our business in Luxembourg with key hires like Marco.”

Northern Trust opened its Luxembourg office in 2004 and today employs approximately 140 people at its office in Senningerberg. It was the first major custodian to obtain a license to offer a third-party UCITS management company service in Luxembourg, and in 2005, became the first to service a cross-border, tax-transparent Fonds Commun de Placement for multinational pension plans.

“We are pleased to welcome Marco to our expanding business in Luxembourg,” says Steve David, Luxembourg country head Northern Trust. “Marco’s familiarity with the Luxembourg market, knowledge of our business, and an understanding of client requirements and the regulatory environment ensure he is well placed to continue to drive momentum.”

Northern Trust has an in-depth knowledge of the Luxembourg funds industry and provides a comprehensive range of services including global custody, fund administration, investment operations outsourcing solutions, depositary banking and tax transparent pooling solutions. It also offers a management company to manage UCITS funds within the European passport

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