CHICAGO, Oct. 2 /PRNewswire-FirstCall/ -- Northern Trust, a leading global provider of asset administration and asset management services, announced today that it has officially moved into its new office space in Bangalore, India. The new office, which is fully operated and staffed by Northern Trust employees, supports the company's rapidly growing international businesses in the Asia-Pacific region and worldwide.
"Northern Trust's global delivery model is an integral part of our long- term growth strategy and success," said Timothy J. Theriault, President, Worldwide Operations and Technology, Northern Trust. "Globally invested assets now account for almost 50 percent of Northern Trust's $2.9 trillion in institutional assets under custody, and some of our largest clients are located in the Asia-Pacific region."
The Asia-Pacific region represents a rapidly growing market opportunity for Northern Trust. The company has offices in Beijing, Hong Kong, Singapore, and Tokyo, and services clients in over 40 countries worldwide.
"This new office will allow us to enhance our global value proposition by further ensuring continued 24x7 operational support for all our clients, particularly those in the Asia-Pacific region," added Theriault. "This new office will augment our existing operations in North America and Europe. Chicago and London, in addition to Guernsey, Dublin and our newest planned center in Limerick, will remain major regional operating centers. Client- centric activities such as call center support or direct client relationship management will also remain within local markets around the world."
Northern Trust currently has over 4,000 operations and technology staff employed around the world, and the newly opened office in India employs approximately 200 securities operations professionals. David Wicks, senior vice president and previously based in London, heads the new Bangalore office.
Commenting on the new office, David said, "We have a very professional and talented staff, and this is an exciting opportunity for Northern Trust to further enhance and grow our global operating model as we expand our international footprint. Our new office will provide a high-quality, Northern Trust-staffed solution to our international operational needs in the region, as well as provide additional back-up security and duality for our operational partners around the globe."
About Northern Trust
Northern Trust Corporation is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 84 offices in 18 U.S. states and has international offices in 13 locations in North America, Europe and the Asia-Pacific region. As of June 30, 2006, Northern Trust had assets under custody of US$3.2 trillion, and assets under investment management of US$640 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com/ .
© 2006 PR Newswire
