Northern Trust has appointed Allan Watson as head of derivatives operations for Europe Middle East and Africa (EMEA).
In this newly created role, Watson is responsible for managing the teams that administer over-the-counter (OTC) and exchange-traded derivatives (ETD), and provide collateral management services, for investment manager and pension fund clients who outsource these activities to Northern Trust. He works closely with the derivatives product managers and third party vendors to ensure the continued development and enhancement of Northern Trust’s capabilities in this area. He is based in London and reports to Stephen Andress, global head of derivatives operations.
“The trend for clients to outsource their derivatives processing activities continues to gather momentum – we have seen a 30 percent increase year-on-year in the volume of derivatives processed at Northern Trust. As a result, we are investing for the long-term in people and technology in this area of our business, and Allan’s appointment is in line with this,” says Andress.
Watson joins Northern Trust from Bank of America where he was manager in the exotic rates middle office. Prior to this, Watson worked for Goldman Sachs in London and New York. His career to date spans a decade during which time he has worked in investment banking and proprietary trading.