Northern Trust, the Chicago-headquartered banking group, has appointed Dave Sauvarin as managing director of its Jersey office, replacing Paul Guilbert, who has been named head of private equity in Guernsey.

Sauvarin was head of Northern Trust’s UK-listed real estate administration team in Guernsey. In his new role, he will report to Paul Cutts, who was recently appointed country head for the Channel Islands.

Sauvarin acquired experience across risk management and fund administration throughout his 15 years at Northern Trust. In 2006 he moved into the firm’s real estate fund administration operations, where he was responsible for teams specialising in commercial real estate investment, stock exchange listings and real estate product development and projects.

Guilbert joined the firm in 1997, having previously worked in the private equity industry. His new role sees him manage Northern Trust’s private equity fund administration team in Guernsey. He replaces Dave Sullivan, who has returned to the company's Chicago division. He will also retain his role as head of Northern Trust’s global private equity fund administration operations. 



In August,  Northern Trust hired Scott Murray as chief technology officer, followed by the appointment of Kais Abbas as head of investment business development for the Middle East in September.

Northern Trust has offices in 18 US states and 16 locations in North America, Europe, the Middle East and Asia-Pacific.

As of end September, the firm had assets under custody of $4.1 trillion and assets under investment management amounting to $644 billion.