LONDON, March 4, 2010 /PRNewswire/ --
- TMI Awards Also Name Northern Trust ''Best Bank for Pension Solutions''
Northern Trust received the award for "Best Money Market Fund - North America" at the Treasury Management International (TMI) magazine awards ceremony held recently in London. Northern Trust was also named "Best Bank for Pension Solutions" at the TMI Awards, which are voted by the magazine''s international readership of treasurers and financial executives.
"We are delighted to have been selected for these awards," said Steve Everett, Global Director of Balance Sheet & Operating Assets at Northern Trust Global Investments (NTGI), the asset management arm of Northern Trust. "Cash and short duration is at the heart of our asset management business and we believe this money market fund award validates our conservative and client-focused approach to these strategies."
As one of the world''s largest and most experienced global cash managers, NTGI seeks to deliver innovative solutions to institutional investors across a diversified range of U.S.- and Dublin-based, triple-A rated liquidity funds for U.S. dollars, sterling and euro currencies. Institutional investors in NTGI money market funds represent a diverse, stable client base including corporations, pension funds and insurance companies.
Penelope Biggs, Northern Trust''s head of institutional business development for Europe, the Middle East and Africa, commented on the Pension Solutions award: "Northern Trust works with some of the most sophisticated and influential institutional investors across the globe. Launching our dedicated Retirement Solutions Practice in 2009 was a key development in our approach to working with pension providers, and brings together experts from Northern Trust''s asset servicing and asset management groups. This award recognizes our efforts in helping organizations navigate the complexities of the evolving retirement market - from cross-border tax transparent pooling solutions to back- and middle-office services for fiduciary managers."
Northern Trust provides asset servicing and asset management solutions to more than 1,000 pension funds globally. Through its Retirement Solutions Practice, Northern Trust is sharing its knowledge and understanding of pensions, investments, government and regulatory issues as well as proprietary research into market-related issues such as risk management, pan-European pensions and fiduciary management. The Practice brings together diverse skill sets and experienced individuals with in-depth knowledge and expertise to provide different solutions and integrated strategies tailored to the needs of pension funds.
Robin Page, Chief Executive Officer of TMI, said the awards honoring innovation and excellence in treasury management drew more than 1,600 responses from readers, both online and through the magazine.
"Treasury Management International has dedicated itself to the treasury industry for the past 18 years. Our awards ceremony is always a fitting tribute to the most significant work accomplished in the industry," Page said. "The Money Market Fund award for North America drew strong competition, and the Pension Solutions awards attracted a significant number of voters from Europe. As with all our awards, these accolades clearly demonstrate Northern Trust''s understanding of the challenges faced by treasurers in this challenging market"
TMI is published in association with major global treasury associations including the European Association of Corporate Treasurers, the Treasury Management Association of New York, the International Association of CFOs and Corporate Treasurers (China), the Japan Association of Chief Financial Officers, the Association of Corporate Treasurers Singapore, the Treasury Association of Canada and the International Group of Treasury Associations.
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 December 31, 2009, Northern Trust had assets under custody of US$3.7 trillion, and assets under investment management of US$627.2 billion. 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 http://www.northerntrust.com.
Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission. 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 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.
Northern Trust Corporation
North America & Asia-Pacific, John O''Connell, +1-312-444-2388, jo45@ntrs.com, or EMEA, Sara Murshed, +44-(0)-20-7982-2249, sm136@ntrs.com, both of Northern Trust Corporation
