Northern Trust announces today that Justin Chapman, global head of process management at Northern Trust, has been appointed to represent the securities community on the UK board of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Chapman, currently the custodian representative appointed to the board of 12 directors, is also the co-chairman of the SWIFT (UK) Ltd Securities Product User Group, established to work with the UK board to advise SWIFT on its securities strategy.
SWIFT (UK) Ltd, which represents the UK community of SWIFT users, aims to support the community by identifying and researching current and emerging issues, lobbying and influencing key stakeholders and setting the UK strategy for SWIFT.
“I am delighted to represent the UK SWIFT securities community on the board of SWIFT UK Ltd,” says Chapman. “There have been calls from across the industry to provide greater transparency, standardisation and straight through processing (STP) for securities transactions throughout the securities processing lifecycle. Being involved in providing guidance and recommendations on these and other challenges and responding to the trends affecting securities processing is vital as the industry continues to evolve.”
Chapman, who joined Northern Trust in 2005, heads up the team responsible for strategic implementation and change management across the core custody operations. Previous industry appointments have included terms as chairman of the Industry Standardisation for Institutional Trade Communication (ISITC) and chairman of the subcommittee Corporate Actions Working Group.
SWIFT is a global provider of secure financial messaging services to over 8000 banking organisations, securities institutions and corporate customers in more than 208 countries. SWIFT enables its customers to automate and standardise financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies from their operations.