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Northern Trust Press Release


Northern Trust Strengthens Insurance Services

Appointments to Support Insurance Accounting and Middle Office Solutions

Chicago, July 23, 2013 —

Building on its successful development of asset servicing solutions for insurance company clients, Northern Trust has named Michael B. Dowd head of Insurance Accounting Product and Service for the Americas and brought in Anthony S. Eifrid to lead the investment accounting practice and oversee expansion of middle office services for Northern Trust's insurance practice.

“As a full service provider of customized services to insurance companies, we rely on a dedicated team of professionals to help our clients navigate issues from financial pressures and regulatory requirements to an increased focus on risk governance,” said David J. Sullivan, Insurance Practice Head for Northern Trust in the Americas. “The depth of experience that Mike Dowd and Tony Eifrid bring, as financial and operations executives for major insurers and professional services firms, will further strengthen the consultative approach we take with our insurance clients.”

Dowd has more than two decades of experience in insurance accounting and technology products, for the last four years as insurance product manager at Northern Trust, focused on developing capabilities around insurance accounting services. Prior to Northern Trust, Dowd was head of operations and accounting services at QED Financial Systems, and his earlier career includes investment accounting positions at other service providers as well as a major insurance company.

Eifrid, a Certified Public Accountant, comes to Northern Trust from Lincoln National Corporation, where he was most recently Vice President and Assistant Treasurer-Investment Accounting. In more than 20 years at the insurance company, Eifrid held a series of senior positions in investment operations and accounting. Prior to Lincoln National, he was a senior auditor at the public accounting firm Ernst & Young.

Northern Trust’s insurance practice provides a full range of asset servicing and asset management solutions, including global custody, banking, accounting, investment management, and investment operations outsourcing to a broad spectrum of insurance clients across the globe. Northern Trust's insurance client base and expertise encompass life, property and casualty, pensions, protection and indemnity, captives and the specialist Lloyd's insurance market in the UK.

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 June 30, 2013, Northern Trust had assets under custody of US$5 trillion, and assets under investment management of US$803 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 or 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