10 September 2013

Northern Trust Opens New Office in Riyadh, Saudi Arabia

Riyadh - 09 September 2013 - Northern Trust is expanding its global footprint with the opening of an office in Riyadh, Saudi Arabia, to serve its growing Middle East client base and to support opportunities for continued new business in the region. Northern Trust has been serving clients across the Middle East since 1987, providing asset servicing and asset management expertise. In addition to the office in the Kingdom of Saudi Arabia, Northern Trust also has an office in Abu Dhabi, United Arab Emirates.

“We are excited to expand our presence in the dynamic Middle East region with a new office in the Kingdom of Saudi Arabia, especially at a time when the Kingdom’s economy is growing and diversifying,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “The Kingdom of Saudi Arabia has the largest economy of the six Gulf Co-operation Council countries, making it strategically important not just to Northern Trust, but also to our clients operating from and doing business there.”

Michael Slater has been named head of Northern Trust’s new office and is based in Riyadh. His responsibilities include overall management of the office and leading the development of key strategic relationships with prospective and existing clients in the Kingdom, such as sovereign wealth funds, central banks, pension funds, asset managers, other institutional investors, and wealthy families.

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 Washington, D.C., 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$5.0 trillion, and assets under investment management of US$803.0 billion. 

Source: Northern Trust Corporation