Northern Trust has hired Christopher Madigan as a senior business development executive for its Insurance Solutions business.
Madigan joins from State Street where he most recently a vice president for business development focused on asset managers and insurance clients. He also served as head of global sales and client management at Fidelity Investments for eight years.
He will be responsible for building strategic relationships with insurers throughout North America.
His appointment follows the recent growth in the number of insurance clients Northern Trust has brought on. In December, it reported it had brought on 22 insurance clients with approximately $65 billion in assets over the last two years.
“Insurers face increasing complexity in their allocation of assets, operations and reporting requirements, and outsourcing to an experienced service provider is often the most efficient way for them to access the expertise, capabilities, and technology solutions necessary for ongoing growth and enhanced performance,” said Chris Dvorak, head of Insurance Solutions, Northern Trust.
“We look forward to continuing to showcase and grow our capabilities through Chris’s development efforts.”