Northern Trust Strengthens Australia Tax Solutions With New Hire

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Zaf Kardaras has joined Northern Trust as Tax Manager for Australia and New Zealand, supporting financial and tax reporting for clients in the funds management and superannuation industries.

Kardaras is the lead tax specialist in a fund administration team with 60 professionals dedicated to Australian clients, including fund accounting, unit pricing, financial reporting and tax. As a senior member of the client delivery team, Kardaras will also represent Northern Trust in industry tax forums.

'Northern Trust continues to make significant investment to support its goal of offering the premier tax solution for Australian institutions, and Zaf's hiring complements the local expertise we have built in the region', said Rohan Singh, Managing Director for Northern Trust Australia. 'Zaf will provide critical leadership as our experienced team of fund accountants and tax specialists help institutional clients meet the challenges of Australia’s evolving tax regime'.

Based in Melbourne, Kardaras comes to Northern Trust as a senior tax professional with 17 years of tax experience in the financial services industry, most recently as a tax director at PricewaterhouseCoopers. Prior to that he was Head of Taxation at IOOF Holdings Limited, and previously held Tax Manager roles at ANZ and KPMG. He earned a Bachelor of Economics/Bachelor of Laws qualifications from Monash University, and is a member of the Institute of Chartered Accountants.

'I am excited to join Northern Trust, which has a highly regarded brand and a business model that combines exceptionally strong local capabilities with a single global technology platform', said Kardaras. 'The ability to leverage a global model using a team of local experts based in Melbourne offers an outstanding tax product for clients. I especially look forward to partnering with our clients, advisers and the global Northern Trust network to continually enhance the taxation reporting and value-added services that we offer in support of ongoing Australian and international taxation developments'.

Since entering the Australia market in 2007, Northern Trust has grown to AU$137 billion in assets under custody and in excess of AU$70 billion in assets under administration as at 30 June 2012. Recent client wins include the AU$24 billion Commonwealth Superannuation Corporation (CSC), Military Superannuation Board (MSB) and Queensland Investment Corporation (QIC), one of the largest institutional fund managers in Australia, for middle office outsourcing.

Northern Trust is a full-service provider to the Australian market and delivers a range of solutions for institutional clients; including Australian investment accounting and tax, unit registry services, investment operations outsourcing, and specialised custody solutions. Northern Trust utilises its single global operating platform to combine the scale and expertise of a global organisation with the focus and experience of a local provider.

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