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Northern Trust Press Release

 
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Northern Trust expands into Germany

Frankfurt, May 2, 2013 —

Northern Trust (Nasdaq: NTRS) has established an office in Frankfurt, Germany, as part of a continuing commitment to servicing clients as close to their home market as possible.

Northern Trust Management Services (Deutschland) GmbH has been established to provide investment operations outsourcing services to Allianz Global Investors – one of the largest investment managers in Germany, and with whom Northern Trust has a strong existing relationship across North America, Europe and Asia Pacific.

Through the expansion of its investment operations outsourcing capabilities in Germany, Northern Trust now provides services for a total of €110bn (approximately US$134bn) in assets in Germany. From its Frankfurt office, Northern Trust will also begin servicing assets for Allianz Global Investors’ other pan-European locations.

“We are delighted to announce our expansion into Germany where we see significant opportunities across the institutional market, both in terms of asset servicing and asset management,” said Wilson Leech, chief executive officer of Northern Trust in Europe, Middle East and Africa. “We value our longstanding relationship with Allianz Global Investors and look forward to working closely with them as we deliver our sophisticated investment operations outsourcing solution, helping them focus on their core business.”

Northern Trust’s German office, which will be staffed by 20 people, will be headed by Kai Dirk Leifert, in Frankfurt. Leifert joined Northern Trust in 2008 and was most recently chief operating officer for Northern Trust’s asset management business across Europe, Middle East, Africa and Asia Pacific, based in London. In his new role, Leifert will be responsible for the overall management of the Frankfurt office and Northern Trust’s presence in the region.

“Partnering with Northern Trust is a significant step for us in implementing our global operating model and servicing our clients locally as ‘one firm’, more efficiently,” said Michael Peters, chief operating officer for Europe at Allianz Global Investors. “Northern Trust is one of the world’s largest asset servicing providers, and one of the few to have a fully tailored, automated component outsourcing service for trade matching on a single, integrated global technology platform. We have worked with them for a number of years in other investment centres and their stable and sophisticated set up, alongside international scalability, were key factors in our decision. We look forward to continuing the cooperation.”

Northern Trust’s Global Fund Services business provides custody, fund administration, and investment operations outsourcing solutions to investment managers across the globe and across the spectrum of asset classes. Northern Trust has 20 full outsourcing clients and a further 20 component outsourcing relationships in Europe, North America and Asia-Pacific. 

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 17 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2013, Northern Trust had assets under custody of US$5 trillion, and assets under investment management of US$810.2 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 www.northerntrust.com or follow us on Twitter @NorthernTrust.

© 2013 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For regulatory information about individual market offices, visit northerntrust.com/disclosures.

The Northern Trust Company, London Branch, Northern Trust Global Services Limited

Northern Trust Global Investments Limited. The following information is provided to comply with Article 9(a) of The Central Bank of the UAE’s Board of Directors Resolution No 57/3/1996 Regarding the Regulation for Representative Offices:  Northern Trust Global Services Limited, Abu Dhabi Representative Office. Northern Trust Global Service Limited Luxembourg Branch, 2, rue Albert Borschette, L-1246, Luxembourg

Succursale d’une société de droit étranger RCS B129936. Northern Trust Luxembourg Management Company S.A., 2, rue Albert Borschette, L-1246, Luxembourg

Société anonyme RCS B99167. Northern Trust (Guernsey) Limited (2651)/Northern Trust Fiduciary Services (Guernsey) Limited (29806)/Northern Trust Fiduciary Company (Guernsey) Limited (46534)/Northern Trust International Fund Administration Services (Guernsey) Limited (15532) Registered Office: Trafalgar Court Les Banques, St Peter Port, Guernsey GY1 3DA. Northern Trust Management Services (Deutschland) GmbH is registered with the Amtsgericht Frankfurt am Main (HRB number: 96222).

For regulatory information about all our offices and legal entities, visit northerntrust.com/disclosures.

This material is directed to eligible counterparties, institutional investors, expert investors, professional investors and professional clients only and should not be relied upon by retail clients or retail investors.

 

 

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