THE NORTHERN TRUST COMPANY OF SAUDI ARABIA REGULATORY INFORMATION
Financial Reporting
Audited Financial Statements
Pillar III
Board of Directors Report (2018)
Board of Directors Report (2017)
Authorisation (License) and commencement of business date
The Company operates in the Kingdom of Saudi Arabia under Commercial Registration No. 1010366439 issued on 22/04/1434H (corresponding to 04/03/2013G) by the Saudi Arabian Ministry of Commerce and Industry.
Licensed Securities Business
Custody, Advisory, Investment Fund Management and Discretionary Portfolio Management
Licensed by the Capital Market Authority – License No. 12163-26 – C.R: 1010366439.
Paid-up Capital
Capital of SAR 52 million.
Products and services
Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals.
The Northern Trust Company of Saudi Arabia provides global custody, asset management and advisory services to clients in the Kingdom of Saudi Arabia.
Direct Controllers
TNTCoSA’s founding shareholders are wholly owned subsidiaries of the Northern Trust Corporation. The Registered office of the company is located in Riyadh.
Direct Controller Ownership and Structure
Organisational Structure
Organisational Structure
Senior Executives
Michael Slater (2005 – Present)
Senior Vice President – Northern Trust
Michael Slater is chief executive of The Northern Trust Company of Saudi Arabia and director of business development for Corporate and Institutional Services in the Middle East. Michael is based in Riyadh and has worked in the Middle East since 1996.
Michael has twenty four years of industry experience within asset servicing. Michael holds a B.S. degree in Economics and Finance from Lipscomb University, Nashville TN. Michael also holds a certified financial planning certificate from Florida State University.
Effat Saeed Badeeb (2016 – Present)
Vice President – Northern Trust
Ms. Effat Badeeb is Chief Compliance and MLRO of The Northern Trust Company of Saudi Arabia. Effat is based in Riyadh and has worked in compliance since 2006.
Effat has twelve years of industry experience within Compliance and MLRO in Saudi Arabia. Effat holds a Bachelor’s degree in Sociology from the King Abdulaziz University as well as CME 1 & 2 – Advanced Compliance Certificate – Advanced AML Certificate –International Diploma in Compliance with ICA.
Main office address and contacts information
Nakheel Tower, Floor No. 11, King Fahad Road, PO Box 10175, Riyadh 11433, Saudi Arabia.
Telephone: +9 661-1418-8694.
Michael Slater, Senior Vice President
Telephone: +9 665-0694-6567
Email: ms163@ntrs.com.
Client Complaints
Effat Badeeb, Vice President
Telephone: +9 661-1418-8698
Email: esb5@ntrs.com.
Board Members
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Dr. Fawaz Al-Alamy |
Dr. Fawaz Al-Alamy
Dr. Fawaz Al-Alamy has a breadth of experience and today is founder and director of a consultancy firm in Riyadh. Dr. Fawaz is an adviser to Government Agencies and the Private Sector, a member of the International Trade Experts Team, WTO, Geneva and a visiting professor, Trade Law, London City University, UK.
Dr. Fawaz earned his B.Sc, M.Sc and Ph.D in Energy Physics in the United Kingdom. He further earned his Business Diplomat from Stanford University in 1984.
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Michael Slater |
Michael Slater
Michael has twenty four years of industry experience within asset servicing. Michael holds a B.S. degree in Economics and Finance from Lipscomb University, Nashville TN. Michael also holds a certified financial planning certificate from Florida State University.
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David C. Wicks |
David C. Wicks
David is a member of the European Management Committee; Executive Management team for Enterprise Operations and sits on the Bank’s Operating Group. David holds two registrations with the UK Regulator (FCA) – CF29 (Significant Management Function) and CF10a (Client Asset Operational Oversight).
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Belinda Aspinall |
Belinda Aspinall
Belinda is the Regional Head of the Global Family and Private Investment Offices Group in Europe, the Middle East and Africa, and is based in London.
Prior to joining the GFO group, Belinda was CEO of Northern Trust Channel Islands, where she was responsible for the Banking, Fund Administration and Fiduciary business.
From 2012, Belinda was based in Stockholm, where she was responsible for all asset servicing and asset management business activity across Denmark, Finland, Norway and Sweden.
Belinda joined Northern Trust in 2005 as a senior relationship Manager responsible for a range of UK, Irish and Guernsey domiciled fund managers. In 2007 she assumed the role as head of a team of global fund services relationship managers in the UK which services global asset managers, insurance funds and in-house managed pension scheme clients.
Belinda has over 26 years of industry experience in a wide range of operational and client-facing roles. She began her career with JPMorgan Chase, Luxembourg before moving to London as a senior relationship manager in 2000.
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James Wright |
James Wright
James Wright is Senior Vice President and Head of Northern Trust's Institutional Investors Group in the UK, Middle East and Africa. James is a member of the Executive Management Committee, EMEA and is due to join NTGS Board in the UK.
Prior to joining Northern Trust in 2016, James spent 29 years with JPMorgan where he held various management roles in the Investor Services Division of the Bank. For the last four years, James was responsible for major global asset management relationships with highly complex service models. Prior to this, he ran the Investment Management Outsourcing & International Funds Services businesses between 2006 and 2012. Over the course of his 30 year career James has also worked abroad and has a proven track record of running large, multidisciplinary teams.
James is an associate member of the Institute of Chartered Secretaries and Administrators (ICSA) in the UK.