Brian Ovaert, a 21-year Northern Trust veteran, was appointed as the firm’s country manager for Hong Kong.
Mr. Ovaert will oversee the Hong Kong office as well as sales and relationship teams delivering global custody, fund administration, investment operations outsourcing and money management solutions to Northern Trust’s institutional clients in the region.
Mr. Ovaert takes over those roles from William Mak, country executive, Singapore branch and head of Southeast Asia, who assumed them on an interim basis after Kevin Hardy left his positions as country manager for Hong Kong and head of Northern Trust’s money management business in the region in October 2012, said Teresa A. Parker, CEO of the Asia-Pacific region, in a telephone interview.
With Mr. Hardy’s departure, the leadership structure was changed, with Bo Kratz joining Northern Trust from Permal in November as managing director for asset management in the Asia-Pacific region, Ms. Parker said.
Mr. Ovaert moves to Hong Kong from Bangalore, India, where he served as CEO of Northern Operating Services as well as Asia-Pacific regional head of operations and technology.
Ms. Parker said Mosur “Sai” Saisekar, who had served as a senior vice president and head of Global Fund Services Asia in the Bangalore office, has been named CEO of Northern Operating Services.
Mr. Ovaert, meanwhile, will remain Asia-Pacific regional head of operations and technology.