Northern Trust Strengthens Product and Client Service Teams for Global Fund Services

CHICAGO--(BUSINESS WIRE)--Northern Trust announced today it has created new positions in its Global Fund Services (GFS) business to expand product offerings, strengthen client service and accommodate growth in the unit serving investment managers, including U.S. mutual fund companies.

“Northern Trust has a growing franchise serving the needs of fund managers worldwide”

“As our fund services business grows across the world, we continue to build our organization with roles that provide global continuity and add depth to our strong regional teams,” said Wilson Leech, head of GFS at Northern Trust. “Recent strategic hires bring experience in fund servicing across regions and jurisdictions, and strong expertise in fund operations and consulting to improve our capacity for bringing on new clients and providing effective and efficient service regardless of location.”

Joining Northern Trust to fill the new roles in recent months are:

• Paul Fahey, Director of Global Product Management and Development. Fahey joins with more than 15 years of experience, most recently as global product manager for the Investor Services unit of State Street Bank & Trust Company in Boston.
• Marc Mallett, Global Head of Client Conversions, Investment Operations Outsourcing. Mallett joined Northern Trust after working for 15 years as a consultant and senior manager at firms including Thomson Reuters, Fidelity Investments and Citisoft Inc., where he was a Managing Director.
• Fiona Horsewill, Global Head of PMO/ Architecture Strategy for GFS. Horsewill was Head of Investment Management Operations for Europe, Middle East and Asia at Lehman Brothers prior to joining Northern Trust.
• Mark Herraman, Head of Investment Operations Outsourcing Client Service, EMEA (Europe, Middle East and Africa) region. Herraman was Director of Third Party Administration at Henderson Global Investors before joining Northern Trust.

In addition to the four new global positions, Northern Trust recently expanded its GFS team in North America to better serve the needs of U.S. mutual funds. Matthew Ward has been named Head of Fund Administration-North America, overseeing fund accounting and related services, while Owen Meacham, senior corporate attorney for GFS, and Dragan Lazich, senior consultant for investment compliance, provide regulatory administrative services to mutual funds.

“Northern Trust has a growing franchise serving the needs of fund managers worldwide,” said Peter Cherecwich, head of GFS in North America and Chief Operating Officer for Corporate & Institutional Services at Northern Trust. “Our dedicated team for U.S. registered funds, combined with our worldwide capabilities and client service delivered on a single, global operations and technology platform, make Northern Trust a strategic partner for investment managers seeking to grow assets in mutual fund products.”

Northern Trust’s GFS unit has been servicing investment manager and fund company clients for more than 30 years and has experience supporting a wide range of complex investment strategies. Northern Trust’s GFS services more than 430 investment managers around the globe encompassing approximately 4,000 funds.

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 June 30, 2010, Northern Trust had US $3.6 trillion in assets under custody, and US$603 billion in assets under investment management. For 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 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 (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 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 operates in China as a Representative Office and is 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.