LONDON--(BUSINESS WIRE)--Oct 28, 2026--
Northern Trust (Nasdaq: NTRS) today announced that Andy Ponsford has joined the company as Head of Insurance, Europe, Middle East and Africa (EMEA). In this newly created role, Ponsford will lead the continued expansion of Northern Trust's insurance servicing capabilities across the region, helping to deliver an integrated operating model designed to support the operational, accounting, investment and regulatory needs of insurance companies.
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Northern Trust currently serves more than 200 insurance clients globally, representing approximately $1.3 trillion in assets under administration and custody. It extends its proven insurance servicing expertise across the region, providing insurance companies with an integrated solution designed to support multi-asset class portfolios across markets and jurisdictions. This and the creation of this new role reflect the firm's broader strategy to deliver a comprehensive servicing ecosystem tailored to the unique needs of insurers.
In his role, Ponsford will be responsible for driving the strategic growth of Northern Trust's insurance business across EMEA, strengthening client relationships, advancing the firm's insurance servicing capabilities and helping clients navigate evolving market, regulatory and operational demands.
Ponsford brings more than 25 years of experience in financial services, with deep experience leading insurance coverage and scaling businesses. Most recently, he served as Managing Director, Global Head of Insurance & Funds and Head of Corporate Strategic Solutions at Barclays Bank PLC. Prior to Barclays, Ponsford held several senior leadership positions at J.P. Morgan.
"Andy brings extensive experience serving insurance clients and a deep understanding of the challenges and opportunities facing the industry," said Ian Hamilton, Head of Asset Owners, EMEA at Northern Trust. "As we continue to enhance our insurance capabilities across EMEA, his leadership will be key in helping us deliver solutions that meet insurers' evolving needs. We are delighted to welcome him to Northern Trust and look forward to the impact he will make for our clients and our business."
Northern Trust offers solutions to nearly 3,000 institutional clients in 53 countries. From alternative asset services to banking and liquidity, capital markets, regulatory, securities, fund services and retirement solutions, Northern Trust is differentiated by a commitment to client service, integrity and technology innovation.
About Northern Trust
Andy Ponsford, Head of Insurance, EMEA, Northern Trust
HONG KONG (AP) — Tech stocks have surged this week ahead of Wednesday's meeting of the U.S. Federal Reserve with markets anticipating no change to the benchmark U.S. interest rate, at least not yet.
The rapid-growth tech sector is fueled by easy access to credit and hyperscalers like Microsoft and Alphabet will post quarterly earnings reports after the bell. Amazon and Intel release earnings Thursday.
The tech rally continued before the opening bell Wednesday as futures for the Nasdaq, already up 2% this week, rose 0.4%. Futures for the S&P 500 edged up 0.1%, while those for the Dow Jones Industrial Average fell 144 points, or 0.3%.
The Fed is in a bind, however, with higher energy prices from the conflict in the Middle East intensifying inflation. Benchmark U.S. crude rose more than 2% early Wednesday after an attack on a major Saudi Arabian refinery by Iran-backed Houthi rebels this week.
Brent crude oil, the international standard, is also up almost 2% to $111.38 a barrel.
Alphabet is up almost 2% early and Microsoft is essentially flat. Memory chipmaker SK Hynix jumped 11.4% to its highest level in two weeks after it reported a record-high operating profit of 83.3 trillion won ($62.8 billion) for the last quarter, up nearly sevenfold from a year earlier and beating market estimates.
In other early trading, the cryptocurrency platform Robinhood is down sharply after its quarterly profit fell short of expectations. Stellantis rose 6% after the automaker stood by its guidance for the year despite heavy costs related to its turnaround bid.
In Europe, Germany’s DAX edged up less than 0.1% to 25,598.39, while the CAC 40 in Paris declined 0.1% to 7,876.05. Britain’s FTSE 100 fell 0.3% to 10,656.49.
In Asia, South Korea’s Kospi surged 6.6% to close at 6,012.44.
The Bank of Japan begins a two-day policy meeting on Thursday, with markets expecting its benchmark interest rate to be unchanged.
Treasury yields are relatively steady before the Federal Reserve announces its decision on interest rates. The Fed last month hiked the fed funds rate for the first time in three years in hopes of slowing inflation, but the widespread expectation on Wall Street is that it will hold rates steady this time.
The yield on the 10-year Treasury, an important indicator on inflation for the Fed, edged up 0.25% to 5.0% early Wednesday.
The U.S. dollar slid to 157.92 Japanese yen from 157.95 yen. The euro was trading at $1.1128, up from $1.1126.
FILE - Trader Daniel Kryger works on the floor of the New York Stock Exchange, Monday, Feb. 2, 2026. (AP Photo/Richard Drew, File)
Employees work near the screens showing the Korea Composite Stock Price Index (KOSPI), the foreign exchange rate between the U.S. dollar and the South Korean won, and the Korea Securities Dealers Automated Quotations at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, Oct. 28, 2026. (AP Photo/Lee Jin-man)
A dealer stands near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between the U.S. dollar and the South Korean won in a dealing room of Hana Bank in Seoul, South Korea, Wednesday, Oct. 28, 2026. (AP Photo/Lee Jin-man)
A dealer walks near the screen showing the Korea Composite Stock Price Index (KOSPI) in a dealing room of Hana Bank in Seoul, South Korea, Wednesday, Oct. 28, 2026. (AP Photo/Lee Jin-man)
