The Chicago-headquartered banking group said the expansion comes in response to growth across the Asia-Pacific region.

Northern Trust is expanding its Indian footprint with a new office in Pune.

The Northern Operating Services Private Limited (NOSPL) operation, set to open in July, will complement Northern Trust’s existing presence in Bangalore, India, and Manila, the Philippines. It is expected to grow to more than 500 employees within two years.

Mano Mathews, who joined Northern Trust in 2009 and most recently served as head of hedge fund services in Bangalore, will spearhead the new office, reporting to Mosur Saisekar, head of NOSPL in India. 

“We are pleased to continue the expansion of our operations in India,” said Saisekar. “From 200 employees in 2006, we now employ more than 3,600 people in India, and this latest expansion in Pune will further drive our growth and presence in the region, ensuring we are well positioned to continue to support Northern Trust’s clients.”

The group's Indian business serves clients including alternative, multi-manager and traditional investment managers, pension funds, multinationals, insurance companies and not-for-profit organisations.

From its network of offices across Asia-Pacific, Australia, China, Hong Kong, India, Japan, Malaysia, the Philippines, Singapore and South Korea, Northern Trust offers asset servicing and asset management solutions to institutional investors, fund managers and wealthy individuals. As of the end of 2015, Northern Trust had $6.1 trillion of assets under custody and $875 billion of assets under management.