Both Reydel and McMaster will help Northern Trust to expand its Global Fund Services (GFS) business. Credit: Ben Rosett on Unsplash.

Northern Trust, a provider of wealth management and asset management services, has appointed Steven Reydel as the new head of fund accounting in North America.

The firm also named Michael McMaster as the chief of its North America fund administration unit.

Both Reydel and McMaster will help the company to expand its Global Fund Services (GFS) business, which provides global investment managers with various services such as fund administration, custody, investment operations outsourcing and others.

Reydel, who has 20 years of experience in fund accounting, will be responsible for setting up and expanding the GFS business in Boston.

He previously worked with State Street and most recently served as the chief of Brown Brothers Harriman’s (BBH) global fund accounting team and the fund accounting product executive.

With over 25 years of experience, McMaster has re-joined Northern Trust GFS.

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In his most recent role, McMaster was the chief tax officer ̶ head of global fund services tax at Invesco, where he supervised the firm’s operations across North America, Europe, the Middle East and Africa (EMEA) along with Asia-Pacific (APAC) regions.

Northern Trust chief operating officer of GFS North America Jennifer Buonopane said: “In keeping with GFS’ commitment to providing our clients with a best in class operational and service experience, Steve and Mike’s combined leadership and industry expertise will help ensure that our operating model continues to be efficient, resilient and adaptable to the evolving needs of our clients and their investors.”

Earlier last month, Northern Trust announced the appointment of Alvin Chia as its new head of digital assets innovation wing in Asia Pacific.