Northern Trust appoints APAC head of industry development

Northern Trust has appointed David Sara as regional head of industry development for Asia Pacific, as the custodian looks to deepen engagement with asset owners and accelerate growth across the region.

Based in Melbourne, Sara will focus on strengthening Northern Trust's asset owner proposition, working closely with institutional investors, consultants and industry stakeholders across Australia, New Zealand and broader APAC markets.

The appointment comes as competition intensifies within the custody and asset servicing sector, with providers increasingly targeting large scale super funds and institutional mandates through enhanced technology, data and client engagement capabilities.

Sara brings more than two decades of experience industry engagement across strategy and organisational transformation.

Most recently, he was a consultant at Alpha FMC and previously served as a general manager of technology at NZ Super Fund, overseeing enterprise- wide digital strategy, cybersecurity and data platforms, while managing a large team with a multi-million-dollar budget.

Northern Trust said Sara's background in organisational transformation and industry engagement will support its efforts to evolve its service offering and respond to changing client demands.

The firm is one of the largest custodians operating in Australia, with close to $1 trillion in assets under custody locally, placing it among the top providers in a market that has grown to more than $6 trillion in assets overall. It also has the third-highest assets under administration.

Sara's appointment signals a continued focus on building strategic relationships and positioning Northern Trust to capture further growth opportunities in the region's evolving investment landscape, it said.