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Northern Trust Names New Head for its Business Across Australia and New Zealand
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Northern Trust (Nasdaq: NTRS) has appointed Leon Stavrou as the head of its business in Australia and New Zealand, effective October 1, 2021. Stavrou, who has over 20 years of experience in the asset servicing sector, previously managed operations in Australia and the Asia Pacific region. He succeeds Angelo Calvitto, who now leads Northern Trust in Asia Pacific. The company, the second largest custodian in the Australian market, has over 200 employees in Sydney and Melbourne, providing tailored asset servicing solutions to institutional clients.
Positive
Appointment of Leon Stavrou may enhance leadership effectiveness in Australia and New Zealand.
Stavrou's extensive experience in asset servicing could drive innovative solutions.
Northern Trust is the second largest custodian in the Australian market, indicating strong market position.
Negative
None.
MELBOURNE, Australia--(BUSINESS WIRE)--
Northern Trust (Nasdaq: NTRS) today announced it has appointed Leon Stavrouas head of its business in Australia and New Zealand.
Stavrou was most recently a global services executive responsible for Northern Trust’s asset servicing operations across Australia and for ensuring the provision and development of Northern Trust’s tailored range of asset servicing solutions to clients across Asia Pacific. He succeeds Angelo Calvitto, who was named as head of Northern Trust in Asia Pacific in June this year.
Effective 1 October 2021, Stavrou will be responsible for overseeing the overall strategic direction for Northern Trust’s business providing solutions to its sophisticated corporate and institutional clients across the region. He will report to Calvitto.
“Leon is a proven and trusted leader and we are pleased to appoint him to lead our business in the region,” said Calvitto. “His experience working with sophisticated institutional clients with unique requirements will support us as we continue our business momentum and bring innovative solutions for our clients across Australia and New Zealand.”
Stavrou has more than 20 years of experience of working within the asset servicing industry, with the last 11 years spent at Northern Trust. Prior to joining Northern Trust, Leon held managerial roles at National Australia Bank Asset Servicing. His qualifications include a Bachelor of Commerce from the University of Melbourne, a Certified Practicing Accountant (CPA) and a Graduate Diploma in Applied Finance and Investment (FINSIA).
Northern Trust employs more than 200 people in its Sydney and Melbourne offices and is the second largest custodian in the Australian market by total assets under custody, according to Australian Custodial Services Association data as of June 2021.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) 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 June 30, 2021, Northern Trust had assets under custody/administration of US$15.7 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. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
