Expertise, Commitment and Added Value
Country Head Steve David says Northern Trust’s continued growth in Luxembourg is strongly linked to its focus on empowering its employees to help them achieve their career goals, maintain a healthy work-life balance, and play an active role in the community.
What are your goals for 2017?
We are on track to achieve our goal to become a top 10 provider by assets under administration following February’s announcement that UBS AG has entered into an agreement for Northern Trust to acquire UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland. The acquisition will enable Northern Trust to further deepen our presence in Luxembourg and gain local fund administration capabilities in Switzerland, becoming a leading administrator by assets in that market. It will build on our growth momentum which has seen us steadily growing our business in Luxembourg over the past decade to now support many of the world’s largest and most sophisticated asset managers and multinationals. As we continue to grow by both organic growth and this strategic acquisition expected to close in the second half of 2017, one of our key goals is to ensure our staff maintain a work-life balance and that we empower the talented people working with us to become strong decision makers.
How do you attract talent?
It is a combination of many things. We benefit from a well-known name, but we also have loyal and happy employees who let their friends know of relevant opportunities – a vital source of new talent. We work with the University of Luxembourg and the University of Limerick in Ireland. We also advertise, take part in HR events and work with recruitment agencies if necessary. But attracting people is only the start. Training begins on the first day in the office. Northern Trust is genuinely committed to helping our employees fulfil their potential and achieve their long-term career aspirations. We have a rich array of resources, tools and training to support career development, including support for employees undertaking relevant professional qualifications. I also meet all our new employees face to face. I want to encourage them to feel engaged about working with Northern Trust and to grow with the job. We encourage them to develop their personal leadership skills by coming up with new ideas and to not be afraid of suggesting changes.
What role does Northern Trust aim to play
in the Luxembourg community?
Northern Trust has always been a pioneer when it comes to playing a social role. In 2016, we supported a range of philanthropic activities, which enabled employees to volunteer at Caritas, for example, as well as helping the Red Cross and supporting the work of Fondation Autisme Luxembourg. We also donated money to several associations – each business line decided on its own beneficiary. It is a win-win situation. These activities make people feel part of the wider community and build strong teams!