Northern Trust appoints Sheldon Woldt as Middle East head

The Chicago-based bank Northern Trust has appointed Sheldon Woldt to a newly created role of head of the Middle East, responsible for leading the continued growth of its business in the region.

Working with regional management, and drawing on Northern Trust’s asset servicing, asset management and wealth management expertise serving institutional asset owners, asset managers and family office clients, Woldt will lead expansion in the Middle East, the firm said.

“The creation of this role reflects Northern Trust’s continued business success in the Middle East, our expanding and important client base in the region, and new and exciting opportunities for further growth,” said Wilson Leech, chief executive officer, EMEA.

Woldt will re-locate from Chicago to Abu Dhabi, reporting to Penelope Biggs, head of the Institutional Investor Group, EMEA. Locally, he will work closely with Michael Slater, head of the Abu Dhabi office, and Kais Abbas, head of investment business development. 

Woldt has been with Northern Trust since 1983, during which time he has worked with a range of Middle East clients across a number of sectors. Northern Trust has been active in the region since 1987, and opened its representative office in Abu Dhabi in 2008.

The parent company has offices in 18 US states and 16 international locations. As of March 31, 2012, Northern Trust had assets under custody of $4.6trn, and assets under investment management of $716.5bn.

The multi-asset class investment management business is comprised of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., the investment advisor division of The Northern Trust Company and The Northern Trust Company of Connecticut and its subsidiaries which offer investment products and services to personal and institutional markets.

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