Northern Trust Announces Manila, the Philippines Office Opening
Northern Trust (Nasdaq: NTRS) today marks the official opening of its Manila office in the Philippines. The office, which will support processing and back-office functions for Northern Trust’s global clients, is Northern Trust’s third Asia-Pacific office established this year and supports its growing international business across the region.
“The Philippines is a thriving country with a growing pool of talented, educated individuals,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “We are pleased to establish our office in Manila, expanding our global operating centers of excellence and offering our clients increased support in their time zone.”
Paula Kenee has been appointed as country head, the Philippines. Kenee joined Northern Trust in 1994 and, prior to her new role, was most recently chief operations officer for Northern Trust Asset Management across Europe, Middle East and Africa. Kenee holds a degree in Banking and Finance from the University of Manchester Institute of Science and Technology and is an associate member of the Institute of Bankers.
“We are pleased to add Manila to our operations centers of excellence across the globe,” said Brian Ovaert, head of Operations for Northern Trust in Asia-Pacific. “With employees worldwide dedicated to working on leading-edge technology and operations, and investment of US$2.2 billion dollars on a rolling two year period, we continue to invest in our technology and infrastructure. The Manila office will play a key role in our continued focus on supporting our clients in Asia-Pacific and around the world.”
Asia-Pacific is the fastest-growing global region for Northern Trust, with assets under custody growing at an annual rate of 25 percent from 2008 through 2013, and assets under management growing by more than 15 percent annually over that five-year period. In October, Northern Trust announced it had established an office in Seoul, South Korea, following an announcement earlier this year that it had opened an office in Kuala Lumpur, Malaysia.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2014, Northern Trust had assets under custody of US$5.9 trillion, and assets under investment management of US$923.3 billion. For 125 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 and follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures
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