The firm has also brought in Anthony S. Eifrid to lead the investment accounting practice and oversee expansion of middle office services for Northern Trust's insurance practice.
'As a full service provider of customized services to insurance companies, we rely on a dedicated team of professionals to help our clients navigate issues from financial pressures and regulatory requirements to an increased focus on risk governance', said David J. Sullivan, Insurance Practice Head for Northern Trust in the Americas. 'The depth of experience that Mike Dowd and Tony Eifrid bring, as financial and operations executives for major insurers and professional services firms, will further strengthen the consultative approach we take with our insurance clients'.
Dowd has more than two decades of experience in insurance accounting and technology products, for the last four years as insurance product manager at Northern Trust, focused on developing capabilities around insurance accounting services. Prior to Northern Trust, Dowd was head of operations and accounting services at QED Financial Systems, and his earlier career includes investment accounting positions at other service providers as well as a major insurance company.
Eifrid, a Certified Public Accountant, comes to Northern Trust from Lincoln National Corporation, where he was most recently Vice President and Assistant Treasurer-Investment Accounting. In more than 20 years at the insurance company, Eifrid held a series of senior positions in investment operations and accounting. Prior to Lincoln National, he was a senior auditor at the public accounting firm Ernst & Young.
Northern Trust’s insurance practice provides a full range of asset servicing and asset management solutions, including global custody, banking, accounting, investment management, and investment operations outsourcing to a broad spectrum of insurance clients across the globe. Northern Trust's insurance client base and expertise encompass life, property and casualty, pensions, protection and indemnity, captives and the specialist Lloyd's insurance market in the UK.