Northern Trust’s David Rothon Elected to Institutional Money Market Funds Association Board

LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq:NTRS) Global Investments, the asset management arm of Northern Trust, announced today that the director of cash and fixed income product management at NTGI, David Rothon, has been elected to the Board of Directors of the Institutional Money Market Funds Association (IMMFA).

“Recently IMMFA worked with both The European Funds and Asset Management Association (EFAMA) and the Committee of European Securities Regulators (CESR) to improve the labelling of money market funds and identify a common definition of what a money market fund is enabling investors to compare money market funds across Europe.”

IMMFA is the trade association representing the triple-A rated money market funds industry in Europe, of which Northern Trust is a founding member. It was set up in 2000 to help ensure investors obtain a consistently high quality product and to educate, inform and influence policy makers, regulators and authorities regarding money market fund issues. Since its inception, IMMFA's money market funds have grown from around €40 billion (US$51 billion) to over €450 billion (US$550 billion). All IMMFA members must abide by best practices set out in a Code of Practice and obtain a triple-A rating for their funds.

“We are delighted that David will represent Northern Trust Global Investments on the IMMFA Board,” said John Krieg, Managing director of Northern Trust Global Investments in EMEA. “Liquidity strategies are core to our business; our experienced team manages over US$200 billion of client assets in these strategies globally. As such, believe that the work that IMMFA is doing to support best practices and advance a clearer understanding of money market funds for investors is vital. I am pleased to support David and IMMFA in their contributions to promoting the development of the money market fund industry.”

Rothon joined Northern Trust in 2004 as a fund manager in the global fixed income team. He has more than ten years of experience in cash management and has been actively involved with IMMFA for six years. David holds a bachelor’s degree in Accounting and Financial Management with the diploma in Industrial Studies from Loughborough University. He holds the Investment Management certificate, Investment Administration Qualification Merit Award and is an Associate of the UK Society of Investment Professions.

“IMMFA plays a crucial role in the promotion and development of the money market fund industry,” Rothon said. “Recently IMMFA worked with both The European Funds and Asset Management Association (EFAMA) and the Committee of European Securities Regulators (CESR) to improve the labelling of money market funds and identify a common definition of what a money market fund is enabling investors to compare money market funds across Europe.

“NTGI works with clients to understand and meet their goals, guiding them through the most appropriate strategy based on their investment objective. During this process we ensure that our investors understand more comprehensively the nuts-and-bolts of cash, reinforcing the growing focus on safety and transparency,” he said.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2010, Northern Trust had assets under custody of US$3.5 trillion, and assets under investment management of US$603 billion. Northern Trust, founded in 1889, 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.