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Northern Trust opens Malaysia office
25 February 2014
Branches out Asia Pacific reach and hires from local central bank
Northern Trust has expanded its presence in Asia Pacific by
opening an office in Malaysia. Ariani Rustam will lead the
office as chief representative. She joins from the Malaysian
central bank, Bank Negara Malaysia.
"Malaysia is a dynamic country with a growing economy and
increasing global investment, presenting an opportunity for
growth in the services that we offer to large, sophisticated
institutional investors," said William Morrison, president and
chief operating officer of Northern Trust.
Although the bank has provided global custody and other
services to Malaysian clients since 2009, this is the first
time it will have a local physical presence.
Rustam will coordinate relationship building in financial
segments including government agencies, pension funds and
She had worked at the Malaysian central bank for 12 years,
latterly as manager of the external fund management division,
where she led the introduction of new asset classes to
diversify the investment of the bank's reserves.
According to Northern Trust, its Asia Pacific business is
growing the fastest out of all regions. Assets under custody
grew 26% annually from 2008 to 2013, while assets under
management increased 15% annually over the same period.