Northern Trust has named William Mak as new head of the Asia-Pacific region, replacing Teresa Parker.
In his new role, Mak will head almost 3,600 Northern Trust employees in offices located in Bangalore, Beijing, Hong Kong, Kuala Lumpur, Melbourne, Singapore and Tokyo.
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Meantime, Parker will assume a key strategic role at the company’s headquarters in Chicago in June as a strategic advisor to corporate & institutional services president Steven Fradkin and his team.
Mak, who joined Northern Trust in July 2010, has held several roles including Singapore country manager and head of South East Asia region. He has more than 25 years of experience in the region’s financial services industry, including government and corporate entities.
Prior to joining Northern Trust, Mak worked with BNY Mellon, ABN AMRO, and the Monetary Authority of Singapore in the Monetary and Reserve Management Division, where he spent 16 years.
Parker, who joined Northern Trust in 1982, has held roles in global custody operations including serving as the head of worldwide asset servicing, securities lending and chief operating officer for Europe, Middle East and Africa.
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By GlobalDataFrederick H. Waddell Northern Trust chairman and CEO said: "Northern Trust’s business in the Asia-Pacific region has expanded dramatically over the past five years, with assets under custody increasing by 14% and assets under management growing by 11% on a compound annual basis during that period."
"Under Teresa Parker’s leadership, the Asia-Pacific region achieved strong business growth in tandem with significant investment by Northern Trust, as we increased our employee base in the region by 84 percent. Teresa, William and the rest of our team will work closely to ensure a smooth transition for our clients, partners, and regulators over the coming months," Fradkin added.
