Recognizing the growth of digital markets alongside the continued evolution of the traditional securities services marketplace, Northern Trust has announced the formation of its Digital Assets and Financial Markets group, which will be led by Justin Chapman who currently is global head of Market Advocacy Innovation and Research.
The new group combines the teams responsible for supporting the fast-growing digital asset markets and those dedicated to providing market access and insights across the traditional securities services markets.
“Clients are increasingly interested in the development of digital markets and investing in digital assets, alongside allocations to more traditional asset classes such as equities, fixed income, alternatives and private assets,” said Pete Cherecwich, president of Asset Servicing at Northern Trust. “Rather than create separate business lines, by aligning our focus on digital and traditional markets together, we can continue to develop services and capabilities that truly reflect and enable our clients’ evolving investment strategies.”
“Traditional and digital markets already co-exist and the boundaries between the two will only continue to blur over time,” Chapman said. “At the same time as more institutional investors are entering the digital arena, the rest of the securities industry is also facing an unprecedented amount of change arising from new regulation, market evolution and the development of emerging technology capabilities. For investors wishing to navigate this environment, our new combined group will provide access to market-leading expertise, industry insights and continued innovations across all markets and all asset classes.”
Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation.
Photo by Lee Ferrell on Unsplash
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