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Northern Trust Wins US$65 Million Custody Mandate for Shetland Islands Council

^{Published on 2010-12-02 14:00:25 - Market Wire}
 

LONDON--([ BUSINESS WIRE ])--Northern Trust (Nasdaq:NTRS) announced today that it has been appointed to provide global custody services to US$65 million (approximately GB41 million) in council assets for the Shetland Islands Council. This latest win complements GB234 million in assets Northern Trust already custodies for Shetland Pension Fund.

"Their ability to deliver tailored reporting that meets our requirements is of key importance to us and it made logical sense for us to extend our mandate to include our council assets."

aWe have developed a strong relationship with Northern Trust since we appointed them as custodian for the Pension Fund in 2002,a said Colin Bain, Treasury Accountant at the Council. aTheir ability to deliver tailored reporting that meets our requirements is of key importance to us and it made logical sense for us to extend our mandate to include our council assets.a

The Shetland Islands which lie 600 miles North of London comprise over 100 islands a" 15 of which are inhabited. The Council is one of 32 local authorities across Scotland and serves a population of approximately 22 000 people.

aWe are delighted to have been awarded custody of these assets for the Council, further extending our relationship with Shetland,a said Penelope Biggs, head of Northern Trusta™s Institutional Investor Group for Europe, Middle East and Africa. aWe look forward to continuing to work with the Council to support their unique and evolving requirements.a

Northern Trust provides asset servicing and asset management solutions to institutional and private clients across the globe, including over 1000 pension funds. Northern Trust also services one-third of all UK Local Government Pension Schemes (LGPS), including more than 50 percent of the Scottish LGPS sector.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2010, Northern Trust had assets under custody of US$3.9 trillion, and assets under investment management of US$657.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit [ www.northerntrust.com ].

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.

The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.

The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia-Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.

• Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration Services (Guernsey) Limited are licenced by the Guernsey Financial Services Commission.
• Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
• Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.
• Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
• Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
• Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
• Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
• The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
• The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI)and is regulated by the Australian Prudential Regulation Authority.
• The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
• The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
• The Northern Trust Company has a branch in China regulated by the China Banking Regulatory Commission
• Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
• Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.