Stephen N. Potter has been appointed president of Northern Trust Global Investments (NTGI), the multi-asset class investment management business of Northern Trust Corporation.
Potter takes the reins at NTGI after leading Northern Trust’s international businesses for six years, a period of rapid growth for the company in Europe and the Asia-Pacific region. He brings more than 25 years of experience as an executive and manager at Northern Trust to the $757 billion asset management unit.
“We are very pleased to have an executive of Steve Potter’s calibre available to lead NTGI at a time of great opportunity for growth. Steve has the right combination of global markets expertise and management skill to guide our asset management organisation to its full potential,” says Northern Trust Frederick H. Waddell, president and CEO, Northern Trust.
Potter’s appointment will be effective immediately. He will be based in Chicago and report to Waddell. Replacing Potter as EMEA region executive will be Biff Bowman, executive vice president and head of client servicing for the EMEA institutional investor group. Teresa Parker, executive vice president and COO for EMEA, will succeed Bowman. Bowman and Parker are veteran Northern Trust leaders, with tenure of 23 and 25 years, respectively.
“This series of appointments demonstrates the depth of experience and talent we have developed at Northern Trust in our locations around the world. Our clients in the EMEA region will be well-served by our London-based executive team and by Steve Potter’s leadership of our global asset management organisation,” says Waddell.
Potter, 51, has been based in London since 2001 as head of the EMEA region, chairman and CEO of Northern Trust Global Services, Ltd., and chairman of Northern Trust Global Investments, Ltd. He is an executive vice president of Northern Trust and sits on the corporation’s Management Group.
“This is a terrific opportunity to lead this growing part of our business, with a talented staff of professionals, a strong fiduciary heritage and a client base that is the envy of the investment industry. With our strong track record in quantitative management and short-duration fixed income as well as multi-manager programs, and our development of exciting new investment solutions, I think our asset management business has great potential for growth in the coming years,” says Potter.