US based asset manager Northern Trust has appointed Marc Mallett in the newly created post of manager of investment operations outsourcing product in the Americas.
In his new job, Mallett will deal with the evolving demand for middle office services by investment managers looking to manage costs while carrying asset growth internationally.
Leveraging Northern Trust’s global operating model, Mallett will work closely with Les Beale, manager of Investment operations outsourcing product in Europe, Middle East, Africa and Asia-Pacific (EMEA).
Investment operations outsourcing is an important tool for managers seeking to slash cost and increase revenues, while meeting demands for more and improved data in complex investments and regulatory environment, the company said.
Having joined Northern Trust in 2010, he has been global head of client implementations for investment operations outsourcing.
Before that, Mallett worked for 15 years in key positions including as technology vice president at Fidelity Investments and chief operating officer of Citisoft.
Northern Trust’s Global Fund Services caters custody, fund administration, and investment operations outsourcing services to investment managers globally and across all asset classes.
Headquartered at Chicago, Northern Trust had assets under custody of $4.8 trillion, and assets under investment management of $758.9bn, as of 31 December 2012.