Mike Hughes’ new role includes sales and business development and encompasses product and market development, and will see him work with client teams to set the firm’s strategy and identify opportunities for growth.

He joins from J.P. Morgan where he ran their $30tn AuC Global Custody business with a staff of more than 3,000 people.

Frederik van Tuyll, Chairman and CEO of Ocorian, said “Mike brings tremendous value to our business. His experience and knowledge of financial services coupled with his energy and enthusiasm will add to our momentum so we continue to grow with our clients on a global basis. This new role is critical to the successful execution of our strategy and will support the transformation of our global business. I am looking forward to working with Mike who reports to me.”

Mike Hughes added: “I am looking forward to helping drive change and ensuring we are best placed to achieve success for our clients as we deliver globally consistent, best in class services.”