The Chicago-headquartered firm seeks to expand in the region.

Northern Trust Asset Management has appointed Jean-Paul Hobeika as director of institutional business for its Middle Eastern arm.

Hobeika has more than 15 years' experience in the region's financial services industry, Northern Trust said, adding that he has held roles across trading, relationship management and sales. He joined Northern Trust Asset Management from Candriam Investors, a pan-European asset manager, where he was responsible for institutional sales in the Middle East.

Based in Abu Dhabi, Hobeika is responsible for supporting the expansion of Northern Trust's investment management business in the region, the firm said in a statement. 

“The Middle East is strategically important for Northern Trust and we are seeing increasing demand there for several of our investment management capabilities, including factor based strategies and other customised exposures as well as liquidity management,” said Hazel McNeilage, managing director for Northern Trust Asset Management in Europe, Middle East and Africa. She added: “We are delighted to have someone with Jean-Paul’s experience on the ground in the region to work with investors on how these capabilities may help meet their investment objectives.” 

Northern Trust began servicing clients in the Middle East in 1987 and currently provides asset servicing and management expertise across the region, it said.

This publication is awaiting confirmation as to whether Hobeika is taking on a newly-created role or replacing someone else and will update coverage accordingly.