Northern Trust’s fast-growing hedge fund administration business has promoted David Burnett to head of Northern Trust Hedge Fund Services in Europe, Middle East and Africa (EMEA).
Based in London, Burnett will lead Northern Trust Hedge Fund Services in EMEA, reporting to Peter Sanchez, global head of Northern Trust Hedge Fund Services, according to a press release.
Burnett joined Northern Trust in 2011 as head of Relationship Management, EMEA, following Northern Trust’s acquisition of Omnium LLC from Citadel. He has more than 15 years of financial services experience, including roles at Omnium LLC and Citadel Investment Group.
Since its acquisition in 2011, Northern Trust Hedge Fund services has seen a period of rapid growth, attracting more than 95 new client mandates and over US$200 billion in assets under administration, including one from the world’s largest global hedge fund managers, Bridgewater Associates.
Founded 125 years ago and based in Chicago, Northern Trust had assets under custody of US$6 trillion and assets under investment management of $934.1 billion as of December 31, 2014.