Northern Trust has appointed James Wright as head of its Institutional Investor Group (IIG) in the UK, Ireland and Guernsey.

In the new role, Wright is responsible for driving the strategic direction and growth of the firm’s  business to meet the needs of  institutional investors and financial institutions  across its pension, insurance, fiduciary and corporate client base.

“Institutional investors, particularly asset owners, are facing significant change in light of the evolving regulatory landscape and challenging economic conditions leading to a reassessment of existing business models,” said a Northern Trust statement.

“Wright will position Northern Trust’s institutional business to support existing and prospective clients’ future business needs through an extensive range of asset servicing, capital markets, liquidity and data solutions.”

“We are thrilled to have James join our team to drive our strategy forward and ensure we are ready to help our institutional clients achieve their goals of enhanced efficiency, improved performance and first class governance,” added Penelope Biggs, head of IIG, for Europe, Middle East and Africa at Northern Trust.

“We understand the pressures institutional investors are facing – particularly asset owners who manage their assets in house. Our capabilities and approach to managing relationships, coupled with James’ experience in back and middle office solutions, will ensure we are well placed to support our clients’ strategic aspirations and practical business needs."