Northern Trust has appointed Michael Wu to the newly created role of head of its Greater China region.
Wu, who was most recently country manager for Northern Trust’s Beijing Branch, will have executive management responsibilities for the Hong Kong office, in addition to his current responsibilities for the Beijing Branch.
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He will report to William Mak, head of Asia-Pacific, Northern Trust.
Wu has been serving the firm as chief representative for the Beijing Representative Office since 2008 and has led Northern Trust to receive approval for its branch license from the China Banking Regulatory Commission (CBRC) in 2010 that allowed the company to provide client services directly from the Beijing office.
Mak said: "Northern Trust’s business in the Asia-Pacific region has expanded dramatically over the past five years, with assets under custody growing at an annual rate of 13 percent. Michael’s extensive experience will be invaluable as we continue to strengthen our service capabilities and extend our asset servicing and asset management businesses across the Greater China region."
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