The new branch of the Beijing branch was opened, following the approval of license by the China Banking Regulatory Commission (CBRC) in August.
Northern Trust has appointed Michael Wu as branch manager of its new Beijing branch.
Northern Trust chairman and CEO Frederick Waddell said that the branch office in Beijing will allow for more face-to-face meetings and better service for clients across China, including global custody, performance measurement and compliance monitoring services.
Wu said that with the approval of a banking branch license, the company can build its local infrastructure, strengthen service capabilities and enhance opportunities for sales and business development in China.
The company aims to leverage its global strength with local expertise and service. Over the past three years, Northern Trust has grown its staff in the Asia-Pacific region to more than 2,000 employees at its offices in Beijing, Hong Kong, Singapore, Tokyo, Melbourne and Bangalore.
