LONDON, February 16, 2010 /PRNewswire/ -- Northern Trust has been selected to provide investment operations outsourcing services for over US$1 billion in assets for London based investment management start-up, Independent Franchise Partners (IFP).

As part of the mandate, Northern Trust will provide custody, trade services, fund accounting, transfer agency, performance measurement and client reporting.

We were impressed by Northern Trust's ability to build and rapidly implement a flexible, yet robust platform which not only enabled us to meet an aggressive launch date, but also supported the diversity of our client base and accommodated our rapid growth, said John Kelly-Jones, Chief Operating Officer at IFP.

Northern Trust provides full and component outsourcing services to some of the world's most sophisticated and successful asset managers on its strategic global platform. Other publicly announced clients include Insight Investment, Hermes Investment Managers (which manages the British Telecommunication pension scheme - the largest in the U.K.), Augustus, and Generation Investment Management.

At Northern Trust we pride ourselves on being a business enabler for our outsource clients, said Toby Glaysher, head of Northern Trust's U.K. Global Fund Services business. Independent Franchise Partners was looking at one of the shortest launch periods we have seen in the industry - from appointment to migration in 72 days. Our ability to get our clients and their products to market quickly is a key differentiator for us.

About Northern Trust

Northern Trust Corporation 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 December 31, 2009, Northern Trust had assets under custody of US$3.7 trillion, and assets under investment management of US$627.2 billion. 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 http://www.northerntrust.com.

About Independent Franchise Partners

Independent Franchise Partners is an employee-owned investment management firm, focused on a single, long-established investment discipline. The Franchise investment approach focuses on a very select universe of high quality, publicly-listed companies and is available as a global or a US equity strategy. Portfolios are constructed with a strong absolute value orientation. The founding partners of the firm are Hassan Elmasry, CFA, Michael Allison, CFA, Paras Dodhia, John Kelly-Jones and Jayson Vowles, CFA.

Northern Trust operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.

Northern Trust in Hong Kong is a securities company regulated by the Securities and Futures Commission.

Northern Trust in Singapore is a foreign wholesale bank regulated by the Monetary Authority of Singapore.

Northern Trust operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.

Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (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 Global Services is authorised and regulated in the Netherlands by De Nederlandsche Bank

Northern Trust Global Services Limited Luxembourg Branch is authorised and regulated by the Financial Services Authority and in Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF) and Northern Trust Luxembourg Management Company S.A. is regulated by the CSSF

Northern Trust Global Services Limited - Abu Dhabi. Representative Office, Licence number 13/238/2008

Where Northern Trust's UK entities undertake regulated business, they are authorised and regulated in the United Kingdom by the Financial Services Authority

Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.

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 a BCD Passported branch of Northern Trust Global Services Ltd a firm authorised and regulated in the UK by the Financial Services Authority ('FSA').

SOURCE: Northern Trust Corporation

CONTACT: EMEA, Camilla Greene, +44-(0)-20-7982-2176, cg81@ntrs.com, or US,Canada APAC, John OConnell, +1-312-444-2388, jo45@ntrs.com, both ofNorthern Trust Corporation