Northern Trust, a US-based financial holding company, has appointed Penelope Biggs as head of its institutional investor group for Europe Middle East and Africa (EMEA).

Ms Biggs will lead client servicing and sales, consulting and marketing for the institutional investor group, which provides asset servicing solutions to institutional investors, such as pension funds, sovereign wealth funds, and insurance companies.

Ms Biggs, who joined Northern Trust in 1996, was most recently head of business development, marketing, product and strategy for Northern Trust’s asset servicing business in EMEA. She also chairs Northern Trust’s Retirement Solutions Practice.

Ms Biggs takes on an expanded role from Peter Holman, who has been named chief administration officer for EMEA. In this newly created role, Mr Holman will oversee Northern Trust’s EMEA product team as well as the investment risk and analytical services group. He has over 25 years of industry experience and joined Northern Trust in 1995.

Biff Bowman, CEO of Northern Trust in EMEA, said: “Penny has been instrumental in developing our asset servicing business in EMEA. We are delighted to appoint Penny to this new role where she can utilize her extensive experience to support our clients’ needs.

“By creating this new role, which aligns the product and risk teams together under Peter, we are better positioned to continue providing our clients with innovative and market-leading solutions that cater to their evolving requirements.”