Northern Trust Announces the Appointment of Olivier Noël as Country Head for Luxembourg

Olivier Noël Appointed Country Head for Luxembourg at Northern Trust

Northern Trust announced today the appointment of Olivier Noël as Country Head for Luxembourg and leader of its Luxembourg-based asset management company, effective immediately.

“Northern Trust opened its first branch in Luxembourg in 2004 to assist clients in leveraging opportunities presented by European funds,” said Clive Bellows, currently Head of Global Fund Services (GFS) for Europe, the Middle East, and Africa (EMEA), and recently appointed, subject to regulatory approval, as the successor to Teresa Parker as President for Northern Trust’s operations in the EMEA region. “Today, it serves as the home of our EU bank and continues to play a central role in our strategy for the European continent to achieve growth and assist clients in managing the increasing complexity of investing and conducting business. We are delighted to appoint Olivier and further expand our franchise under his leadership.”

Additionally, Noël will assume the role of Chief Executive Officer of Northern Trust Global Services SE (NTGS SE), Northern Trust’s bank for the European Union (EU), upon approval by the Board of Directors. He will join the Board of Directors of NTGS SE, subject to regulatory approval.

Noël joined Northern Trust in 2005 as head of the Luxembourg transfer agency. Throughout his 18-year career, he has held various leadership positions. Since 2019, he served as Chief Operating Officer (COO) of the Global Fund Services (GFS) business unit of Northern Trust in Luxembourg, and from 2020 as COO of NTGS SE. He has been a member of the authorized management team of NTGS SE since 2020.

Reporting to Clive Bellows, Noël will be responsible for the overall leadership and direction of Alerus’ retirement and benefits division, which serves thousands of third-party advisors, over 8,000 employer-sponsored retirement plans, and approximately 474,000 plan participants nationwide. He will ensure that all client-related areas align with Alerus’ client-centric, holistic, and collaborative approach to client service, focusing on the needs of Alerus’ third-party advisors, plan sponsors, and participants.

Northern Trust offers a range of services from Luxembourg as a fund administrator, custodian, and international trustee to leading fund managers, corporations, multinationals, and pension funds.

Since 2004, several milestones have been achieved, including being the first major custodian to obtain a license to establish an Undertakings for Collective Investment in Transferable Securities (UCITS) compliant management company in Luxembourg, managing the first international, fiscally transparent Fonds Commun de Placement in 2005 for a multinational corporation’s global pension plan, and the acquisition in 2017 of fund management operations from UBS Asset Management in Luxembourg (and Switzerland). In 2019, Luxembourg became the new headquarters of NTGS SE.

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