Northern Trust Switzerland Extends Capabilities with Depotbank Licence

Northern Trust (Nasdaq: NTRS), a leading fund administrator in Switzerland, today announced that it has received regulatory approvals to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in the Swiss market.

This latest development is in line with Northern Trust’s continued commitment to growing its continental European footprint bringing new capabilities to the local market.

Northern Trust has more than 30 years of experience in providing an extensive range of asset servicing and investment solutions to Swiss clients, and in 2017 established its presence in Basel, following its acquisition of UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.

Wim van Ooijen, head of Northern Trust in Switzerland, said: "We’re pleased to continue to expand our local capabilities, demonstrating our commitment to this strategically important market. This key milestone in our growth strategy supports our important client franchise, which includes some of the world’s most sophisticated asset owners and asset managers, and consolidates our position as a premier asset servicing partner in Switzerland.”

Marco Wiegmann has been appointed head of the new Depotbank with responsibility for Swiss custodian, depositary and transfer agency services within the Depotbank. Wiegmann joined Northern Trust Switzerland in September 2020 from RBC Investor & Treasury Services.

Clive Bellows, head of Global Fund Services for Europe, the Middle East and Africa at Northern Trust said: "Our new capabilities in Switzerland are a further landmark in our long-term depositary growth strategy and underscore Northern Trust’s continuing strategic focus on building our business across continental Europe, strengthening our position as a market leader in offering innovative asset servicing solutions to clients across the region.”

Northern Trust is dedicated to serving the complex evolving needs of asset owners and asset managers across the world through an extensive range of asset servicing and investment solutions. Northern Trust has 11 offices and more than 3900 employees across the Europe, Middle East and Africa region. Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.

ENDS

About Northern Trust Switzerland

Northern Trust Switzerland is licensed as a branch of Northern Trust Global Services SE, an EU credit institution domiciled in Luxembourg and a wholly owned subsidiary of The Northern Trust Company.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2021, Northern Trust had assets under custody/administration of US$14.8 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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