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Legal Counsel-Fund Services, Global Custody and Asset Servicing Lawyer-Hybrid

Northern Trust
London, United Kingdom
Closing date
Jun 14, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Role Description:

We are looking to recruit a lawyer with PQE (Post Qualified Experience) to fill the role of Legal Counsel supporting Northern Trust's EMEA asset servicing businesses.

Reporting to the Assistant General Counsel in the UK, the role will be based in London and is part of a team of 6 lawyers responsible for supporting the asset servicing business in the UK, Middle East and Africa.

Northern Trust's legal department consists of approximately 90 lawyers worldwide, including approximately 30 lawyers located in EMEA.

The key responsibilities of the role include:
  • The successful candidate will provide legal support to Northern Trust's asset servicing business in EMEA, primarily (but not exclusively) in the UK, with particular focus on fund services and global custody, including depositary, fund administration, investment operations and related ancillary services.
  • Principal responsibilities will include:
  • drafting, reviewing and negotiating legal documents relating to Northern Trust's assets servicing products and services, including depositary, fund administration and master custody agreements;
  • providing advice and counsel to business partners and senior management in asset servicing products and services, liaising and engaging with internal and external counsel, where necessary;
  • supporting the Senior Legal Counsel and Assistant General Counsel in the team and liaising with other colleagues in the legal department (in EMEA, APAC and the US) supporting Northern Trust's asset servicing business units globally in order to maintain a consistent approach to the policies of the bank in connection with the provision of the services;
  • updating and maintaining standard template agreements and negotiation guidelines relevant to the services provided to Northern Trust's asset servicing clients in compliance with the risk management framework and policies of the bank;
  • supporting the Senior Legal/Assistant General Counsel on strategic projects and new product initiatives, including participating in Product and Service Risk Reviews;
  • engaging with and supporting Compliance and Risk Management and the Senior Legal/Assistant General Counsel, in analysing the requirements of new laws and regulations impacting the businesses and the implementation of processes and procedures in order to comply with such requirements; and
  • conducting legal research as appropriate to support legal advice and recommendations.
The successful candidate will benefit from having:
  • Ideally the person will be a qualified lawyer in England and Wales with PQE who is currently working either in a reputable and recognised financial services practice at a law firm or a financial institution with asset management or asset servicing expertise and be looking for the next step up in your career.
  • As the role offers breadth across global custody, depositary, fund administration and wealth management, having exposure to one or more of these business would be advantageous.
  • A person with:
- strong integrity and an ethical sense;
- strong commercial/pragmatic sense and understanding of business needs;
- excellent written and verbal communication skills;
- excellent inter-personal skills; and
- excellent organisational and analytical skills.
  • Detailed knowledge of market driven and regulatory initiatives that impact the fund management industry, depositary and/or custody offering across a range of jurisdictions/client types/asset classes.
  • Excellent contract drafting and negotiation skills across a broad suite of contracts, ideally with specific experience of the documents and agreements referred to in the principal responsibilities section above including negotiating with large financial institutions and their appointed external counsel.
  • A self-starter who is flexible and able to work independently and has the ability to prioritise and work to set deadlines within a challenging environment.
  • Strong commercial/pragmatic sense and understanding of business needs.
Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation:

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.


Additional Information

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