Northern Trust has named a former Goldman Sachs and Deutsche Bank executive as its new chief technology officer (CTO) for Europe, the Middle East and Africa (EMEA).
Alison Pain joins the investment bank in London and will focus on providing leadership and guidance to the planning, organisation, direction and control of Northern Trust’s enterprise technology business unit across the region.
Pain most recently spent four years at Deutsche Bank, serving as a managing director within its IT business. She also worked at Goldman Sachs for 12 years, leading infrastructure service and application development functions in EMEA and globally.
She reports to Tom South, chief information officer at Northern Trust, and locally to Teresa Parker, president for EMEA at Northern Trust.
“In the world of ever-changing technology, it’s crucial to be able to effectively navigate this complex landscape and respond to and anticipate our clients’ requirements,” said South.
“We are pleased to welcome Alison to our business. Through her broad array of technology infrastructure experience gained working across global, complex organisations, we are well placed to continue to develop and refine the future of our organisation and deliver technology capabilities and solutions aligned with our clients’ needs and expectations and business strategies.”
Speaking to The TRADE earlier this month, several custodian banks including Northern Trust explained that outsourced trading has become one of the most in-demand services for buy-side clients during the coronavirus crisis.
Of the 50-plus front-office outsourcing clients it has, almost 20% came in the first quarter of this year, according to Pete Cherecwich, president of corporate and institutional services at Northern Trust.