Mr. Wood's remit includes coordinating and developing Northern Trust's Investment Operations Outsourcing service. He reports directly to Mark Schoen, Head of Product Development, Europe for Northern Trust's asset servicing business.

Mr. Wood joins Northern Trust from Bank of New York where, latterly, he was Head of Infrastructure, specialising in outsourcing, derivatives and coordination of the bank's multiple systems platforms. Previously he held positions at Dresdner and Schroders.

Commenting on his appointment, Mr. Wood said, "I believe Northern Trust is well positioned to benefit from the growing market demand for outsourcing expertise and I am excited to be joining its successful and growing team. I welcome the challenge and opportunities of my new role and look forward to my increased involvement in a range of product initiatives."

Mr. Schoen said, "We are delighted that Revel has joined Northern Trust. His derivatives expertise and his experience of large, complex transactions complement the skill sets we already have in the team and will be invaluable as we continue to grow our outsourcing business in the future."

"We have a highly competitive outsourcing product and a can-do approach to addressing the requirements of clients seeking to outsource their middle and back office functions," added Schoen.