Michael Wu was named head of the Greater China region at Northern Trust Corp., said John O’Connell, company spokesman.
The position is new. Mr. Wu oversees the company’s money management and custody businesses in China and reports to William Mak, head of Asia-Pacific for Northern Trust.
Mr. Wu was previously country manager for Northern Trust’s Beijing branch and the new position adds executive management responsibilities for the company’s Hong Kong office.
"Northern Trust's business in the Asia-Pacific region has expanded dramatically over the past five years, with assets under custody growing at an annual rate of 13%,” said Mr. Mak in a news release. “Michael’s extensive experience will be invaluable as we continue to strengthen our service capabilities and extend our asset servicing and asset management businesses across the Greater China region.”