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Northern Trust Adds US$10 Billion in Assets under Custody for Local Government Pension Schemes in the UK

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^{Published in Business and Finance on Wednesday, March 9th 2011 at 5:00 GMT by Market Wire}  

LONDON--([ BUSINESS WIRE ])--Northern Trust (Nasdaq: NTRS) announced today that it grew the part of its custody business servicing Local Government Pension Schemes in the UK with the addition of US$10 billion in new client assets in 2010. The company now provides custody and related services to 36 percent of the Local Government Pension Schemes in the UK.

"Local government pension schemes are faced with a variety of challenges and concerns a" such as changes to the state pension age and how to manage their liabilities"

The announcement follows a series of Local Government Pension Schemes wins announced by Northern Trust underpinning its commitment to the Local Government Pension Schemes market, including the US$1.2 billion London Borough of Wandsworth, the US$65 million Shetland Islands Council and the US$2.2 billion West Sussex County Council, as well as most recently the US$5 billion Lothian Pension Scheme.

aLocal government pension schemes are faced with a variety of challenges and concerns a" such as changes to the state pension age and how to manage their liabilities,a said Douglas Gee, UK institutional business development manager for asset servicing at Northern Trust. aThe Local Government Pension Schemes market is a key focus for us at Northern Trust and we understand they, like all our pension scheme clients, are looking for solutions including, and beyond, custody, such as access to expertise and information on pensions, investments and government and regulatory issues, as well as proprietary research into market-related issues such as risk management and fiduciary management a" all of which we can provide.a

Northern Trust now also provides securities lending services to close to 20 percent of all Local Government Pension Schemes clients in the UK and in 2010 increased to 50 the number of global markets in which it provides securities lending services.

aWe see an increasing demand from the Local Government Pension Schemes market for tailored securities lending solutions that combine a strong risk and control environment, excellent revenue performance and transparent reporting,a said Mark Snowdon, Senior Sales and Relationship Manager for Securities Lending at Northern Trust.

Northern Trust has offered securities lending services and solutions since 1981. It offers customisable programmes to clients across the globe.

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 December 31, 2010, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$643.6 billion. For 121 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 licensed 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 Central Bank of Ireland.
• 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.
• Northern Trust Global Investments Limited has a Netherlands branch which is authorised by the Financial Services Authority and subject to regulation in The Netherlands by the Autoriteit Financile Markten.
• Northern Trust Global Investments Limited has a Sweden branch which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen.