SEOUL, South Korea--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today marks the official opening of its Seoul representative office in South Korea, supporting its continued expansion across Asia-Pacific. This follows the approval of the representative office application by the Financial Services Commission (FSC) in September 2014.
The office opening will be celebrated with an event in Seoul on 28th January with invited guests including regulators, clients and industry peers.
“The opening of our Seoul representative office supports the continuing expansion of our solutions to institutional clients in South Korea, building upon and strengthening our longstanding relationships,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “South Korea is one of the world’s fastest growing economies. Having a local presence in this dynamic market is also part of our strategy of supporting our clients as close to their home market as possible, as well as being part of the local business community.”
Asia-Pacific is the fastest-growing global region for Northern Trust, with assets under custody growing at an annual rate of 13 percent from 2009 through 2014. In November last year, Northern Trust announced it had opened an office in Manila, the Philippines, following an announcement earlier in 2014 that it had opened a representative office in Kuala Lumpur, Malaysia.
“We are pleased to continue to expand our footprint across Asia-Pacific,” said William Mak, head of Asia-Pacific for Northern Trust. “We have seen significant growth in the region in recent years in terms of assets and new clients, as well as expanding our products, capabilities and staff to support sophisticated investors in the region.”
Northern Trust has nine locations across Asia-Pacific – in Australia, China, Hong Kong, India, Japan, Malaysia, the Philippines, Singapore and South Korea.
About Northern Trust
Northern Trust Corporation (Nasdaq:NTRS) is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$934.1 billion. For 125 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 and follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures
