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Stephen Potter Appointed President of Northern Trust Global Investments

Northern Trust announced that Stephen Potter has been appointed to run its Global Investments Group, the multi-asset class investment management business based in Chicago.

Potter was previously head of Northern Trust's international businesses and was based in the London office. "We have a great foundation to build from and are very large and global already, but I think there are opportunities to bring our game to another level, particularly around quantitative management" says Potter.

He says he will be working to expand the products and distribution of the group. First on his list is the launch of Northern Trust Global Investments' exchange-traded funds (ETFs) on the New York Stock Exchange later this month. "They are going to be called Northern Exchange Traded Shares, NETSs, and they give us more product in the quantitative space for distribution in the U.S. market," adds Potter.

Potter is thinking globally as well. "Over a third of our business is coming from non-U.S. sources already, a lions share of the asset servicing business in fact," he says. "So we're close to the large sophisticated institutional investors worldwide already and it's an opportunity for us to serve them with investment products even more."

He adds that the group has seen success already in the Middle East and Asia, and these are areas for continued growth. "I see the prospect for growth in the Middle East and Asia as significant, in fact we just opened an office in Abu Dhabi," explains Potter. In addition the group recently opened an office in Melbourne.

Northern Trust manages about $757 billion in assets. Potter previously held the position of head of the EMEA (Europe Middle East and Asia) region, chairman and chief executive of Northern Trust Global Services and chairman of Northern Trust Global Investments.

Biff Bowman will replace Potter, as the EMEA regional executive in London and Teresa Parker will succeed Bowman.

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