Northern Trust has appointed Olivier Noel as deputy managing director of its Luxembourg Management Company, the entity which provides fund administration services to Northern Trust clients.

Noel, who joined Northern Trust in 2005, was most recently head of transfer agency and shareholder services in Luxembourg. In his new role he is responsible for client servicing, product development and new business integration.

“Our Luxembourg office offers a range of innovative asset servicing solutions to prestigious clients, including multinational pension funds, global asset managers and boutique managers,” said Ian Baillie, country head, Northern Trust Luxembourg. “Olivier, in his new role, will be instrumental in ensuring we continue to expand these strong client relationships and explore new business opportunities, while remaining at the forefront of devising innovative solutions to support our clients’ unique requirements.”

Northern Trust opened its Luxembourg business in 2004 to provide custody and fund administration services, to clients across the region. It became the first major custodian to obtain a license to establish a UCITS III Management Company in Luxembourg and, in 2005, announced it was the first to service a Cross-Border Tax-Transparent Fonds Commun de Placement (FCP), to service a multinational client’s global pension plans.