BEIJING--(BUSINESS WIRE)--Northern Trust announced today that its application for a branch license in Beijing has been approved by the China Banking Regulatory Commission (CBRC). The authorization by the CBRC marks a milestone for Northern Trust, which has had a representative office in Beijing since 2005.

“Institutional investors in China and the Asia-Pacific region have turned to Northern Trust as a strong, stable financial partner with a commitment to the development of domestic financial institutions as sophisticated global investors,” said Northern Trust Chairman and CEO Frederick H. Waddell. “With its dynamic economy and emerging opportunities for overseas investment, China is a strategic focus for Northern Trust. Authorization of Beijing branch will allow us to help our clients pursue their goals and bring the full Northern Trust client experience to the Chinese marketplace.”

The Northern Trust Company Beijing Branch will support institutional clients in China with global custody, accounting, performance measurement and investment mandate compliance monitoring services. The branch license allows Northern Trust to provide client services directly from the Beijing office, rather than from Singapore or Hong Kong, as is required with a representative office. The Beijing branch will play a key role in Northern Trust’s continuing growth in the Asia-Pacific region, where assets under custody grew by 80 percent in 2009. Over the past three years, Northern Trust has grown its staff in the region to more than 2,000 employees at its offices in Beijing, Hong Kong, Singapore, Tokyo, Melbourne and Bangalore.

“Our strong track record of providing customized service to Chinese clients reflects Northern Trust’s commitment to our clients and our desire to serve as a long-term partner to support growth of the Chinese financial industry,” said Teresa A. Parker, Chief Executive Officer of the Asia Pacific region for Northern Trust. “With the approval of a banking branch license, we can build Northern Trust’s local infrastructure, strengthen our service capabilities and enhance opportunities for sales and business development in China.”

Northern Trust’s presence in China dates to 1999, when it began a cooperative relationship with the Bank of Communications. In 2002, Northern Trust began consultation with China’s National Council for Social Security Fund (NCSSF) in preparation for its investment in overseas equities markets. After receiving approval to open a Representative Office in 2005, Northern Trust was appointed as global custodian for both the NCSSF and Bank of Communications, and has continued to develop its custody and asset servicing business in China.

Northern Trust has provided global custody portfolio reporting in Chinese to institutional clients since 2005, including Chinese-language web pages for investment reporting – an innovation that dramatically improved accessibility and transparency for institutional Chinese clients. Northern Trust is also a leader in developing solutions to support IFRS7 financial reporting for global investors in Asia.

“This is an exciting moment for Northern Trust and a significant achievement in our strategy to grow our business in China,” said Michael Wu, Chief Representative for Northern Trust in Beijing. “Over the past decade, Northern Trust has worked with Chinese companies and institutions to develop the financial infrastructure to support overseas investment programs. With this branch license, we can expand the service solutions we provide to current clients and further strengthen Northern Trust in the Chinese asset servicing market.”

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 June 30, 2010, Northern Trust had US $3.6 trillion in assets under custody, and US$603 billion in assets under investment management. 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 www.northerntrust.com.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.

The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.

The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.

• 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.