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Northern Trust Increases UK Pension Fund Assets by US$43.9 Billion

^{Published on 2011-05-17 03:40:46 - Market Wire}
 

LONDON--([ BUSINESS WIRE ])--Northern Trust (Nasdaq: NTRS) announced today that its UK pension fund client base grew dramatically in 2010, with 15 new clients and US$43.9 billion in new assets under custody. Northern Trust now provides custody and related services to approximately 34 percent of the top 200 pension funds in the UK and 36 percent of all UK Local Government Pension Schemes.

"The UK pensions market is a key market for us and goes to the very core of why we established our Retirement Solutions Practice in 2009"

aWe are pleased to continue expanding our footprint in the UK pensions arena, said Penelope Biggs, head of Northern Trusta™s Institutional Investor Group in Europe, Middle East and Africa. aWhilst we experienced great success in 2009, welcoming 10 new UK pension fund clients and US$13 billion in new assets under custody, 2010 has really built on that success in terms of the further relationships we have built across the UK pensions industry.a

To support Northern Trusta™s expanding UK pension fund client base, particularly in the Local Government Pension Scheme market, it has appointed Ray Bloom to head up a team of relationship managers dedicated to serving the needs of local government pension schemes. Ray joined Northern Trust in 2005 and has extensive experience working with Northern Trusta™s pension fund clients.

aThe UK pensions market is a key market for us and goes to the very core of why we established our Retirement Solutions Practice in 2009,a added Penny. aWe understand the challenges facing UK pension funds and their trustees, today and through our Retirement Solutions Practice offer our pension fund clients expertise and insights into regulatory changes as well as updates on trends and challenges affecting them. Beyond this, our Local Government Pension Scheme clients face different challenges to our UK corporate pension fund clients, and we have appointed Ray to support these as we continue to evolve our services and solutions to support our clientsa™ growth.a

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 March 31, 2011, Northern Trust had assets under custody of US$4.4 trillion, and assets under investment management of US$662.2 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 [ http://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.