This publication brings latest news of moves in the Asia-Pacific wealth management market.

Northern Trust, the US-headquartered banking group, has appointed John McCareins to lead its asset management business across Asia-Pacific, taking over from Bo Kratz, who left the bank late last year.

Based in the Hong Kong office, McCareins is responsible for overseeing Northern Trust’s asset management activities across Asia, Australia and New Zealand. These activities include global equity portfolio management and global equity dealing from Hong Kong, as well as investment strategy, relationship management and sales teams based in Hong Kong, Japan, Singapore and Australia.

McCareins reports functionally to Wayne Bowers, head of Northern Trust Asset Management, EMEA and APAC, and locally to William Mak, head of Northern Trust in APAC, the bank said yesterday.

With more than 18 years of investment experience, McCareins most recently was head of the retirement practice outsourced chief investment officer business within Northern Trust’s multi-manager solutions group. There, he led a team that oversees multi-asset investment programmes with more than $60 billion in assets for asset owners globally. He has been a senior investment officer and client service leader in OCIO for over 10 years. 

During his career, he has also worked at T Rowe Price, where he was responsible mutual fund and sub-advisory product development.

Northern Trust Asset Management has $875 billion in assets under management (as of 31 December 2015).