Global Mandate to Support Operations in Asia-Pacific, Europe and North America

CHICAGO--(BUSINESS WIRE)--Northern Trust announced today it has entered into an Investment Operations Outsourcing agreement with global asset manager RCM, a company of Allianz Global Investors. Under the agreement, Northern Trust will provide middle office services for RCM investment teams in three regions - Asia-Pacific, Europe and North America - on Northern Trust's global operations platform.

"This innovative agreement supports RCM's strategy as a truly global asset management firm, operating on multiple continents across six time zones to offer a range of investment solutions," said Peter Cherecwich, head of Global Fund Services at Northern Trust. "We worked closely with RCM to understand their business priorities, and demonstrated our capability to deliver middle office services efficiently and consistently by leveraging our global technology architecture and operations expertise in markets around the world."

Services to be provided under the outsourcing agreement, approved in July 2011, include post-trade execution support, trade processing and settlement, data management, reconciliations, portfolio accounting, client valuations and administration for teams based in Hong Kong, London and San Francisco. Northern Trust's outsourcing services will also support RCM sales and relationship teams in Singapore, Taiwan, Tokyo and Frankfurt.

As part of the agreement, members of RCM's operations staff in Hong Kong will join Northern Trust, where they will continue to support RCM as well as other clients that have recently selected Northern Trust to provide Investment Operations Outsourcing services. The additions significantly strengthen Northern Trust's presence in Hong Kong and increase its asset servicing capabilities in the Asia-Pacific region.

"We selected Northern Trust to leverage the strength of its global operating model, which provides RCM with a platform for strategic growth while we continue to focus on investment excellence," said Michael Hooper, Executive Chairman UK, Chairman of RCM Global Operations Group. "Northern Trust's commitment to Hong Kong was also an important factor. We believe this agreement will strengthen our regional trading while providing a true 'pass the book' capability to support our global operations. We look forward to working with Northern Trust as RCM continues to grow in markets across the world."

About RCM

RCM is a global asset management company providing active investment strategies. The firm operates from six offices-San Francisco, London, Frankfurt, Hong Kong, Tokyo and Sydney-with assets under management of over $154 billion worldwide as of June 30, 2011. At RCM we believe that by generating and exploiting an information advantage, we will be able to deliver superior and consistent investment results for the benefit of our clients-a philosophy we call RCM informed. RCM is a company of Allianz Global Investors, a pre-eminent global asset management group committed to helping clients achieve sustainable success. As a company of Allianz Global Investors, RCM offers a distinctive investment philosophy and culture, while benefiting from the scale and substantial resources of our parent; including business support, industry best-practices and financial investment.

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, 2011, Northern Trust had assets under custody of US$4.4 trillion, and assets under investment management of US$684.1 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.

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 operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority and the Australian Securities & Investments Commission (AFS Licence No: 314970).
• The Northern Trust Company of Hong Kong Limited is regulated by the Hong Kong 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 has a branch in China regulated by the China Banking Regulatory Commission
• Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
• Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (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, Northern Trust Securities Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Central Bank of Ireland.
• 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.
• Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
• Northern Trust Global Investments Limited has a Netherlands branch which is authorised by the Financial Services Authority and subject to regulation in The Netherlands by the Autoriteit Financiële Markten.
• Northern Trust Global Investments Limited has a Sweden branch which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen.

Contacts

Media Contacts:
North America & Asia-Pacific:
Northern Trust Corporation
John O'Connell, +1 312 444 2388
John_O'Connell@ntrs.com
or
EMEA:
Sara Murshed, +44 (0) 207 982 2249
Sara_Murshed@ntrs.com
http://www.northerntrust.com