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June 2, 2021

Northern Trust names new head of Asia-Pacific asset servicing business

Northern Trust has appointed Angelo (Ange) Calvitto as the head of its asset servicing business across the Asia-Pacific region.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Calvitto will assume the new responsibility from William Mak, who will retire from the company after 11 years.

In the new role, Calvitto will work to support the growth of Northern Trust’s asset servicing business in the region.

Calvitto has more than 30 years of experience in global custody services. He joined Northern Trust in 2008 and most recently served as the country head for the company in Australia.

Northern Trust Corporate & Institutional Services president Peter Cherecwich said: “We thank William for his service and leadership and are delighted to name Ange to this important role.

“The Asia-Pacific region is a leading centre for technology innovation, with Singapore as a key hub, particularly for our blockchain initiatives. More broadly, we continue to see significant demand for our entire range of asset servicing solutions across the region.

“Ange, through his leadership of our business in Australia, has demonstrated his expertise in bringing our solutions to clients and we look forward to seeing him harness his experience across the region and continuing to build on William’s successful legacy.”

Northern Trust offers wealth management, asset servicing, asset management and banking services to corporations, institutions, wealthy families and individuals.

Currently, the US-based company has 11 offices across the Asia-Pacific region.

Last month, Northern Trust named Arthur Hill as senior vice president and head of product management for asset servicing.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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