CHICAGO, Jan. 19 /PRNewswire-FirstCall/ -- Northern Trust today announced that financial services industry veteran Lyle Logan will lead a new Global Financial Institutions Group to strengthen relationships with the world's largest financial institutions in order to maximize business growth and revenue opportunities in the segment.
As leader of the global effort, Logan will coordinate with Northern Trust regional heads, country leaders and product management and business unit partners to identify current business and financial relationships that can be developed for the benefit of Northern Trust and its institutional and personal clients. The new unit will leverage Northern Trust's global presence, which has expanded over the past decade to include clients in more than 40 nations investing in more than 90 financial markets worldwide.
"The Global Financial Institutions Group is an essential part of Northern Trust's long-term development and a key strategic initiative for our institutional business," said Steven L. Fradkin, President of Corporate and Institutional Services at Northern Trust. "Lyle brings a depth of experience in product development and client service, relationships at all levels of business, government and non-profit institutions, and a reputation for integrity that will serve him well in this newly created position."
Logan, an executive vice president, has three decades of experience in financial services, most recently as Managing Director, Institutional Sales and Client Servicing for Northern Trust Global Investments since 2005. Previously, he was head of Chicago Private Banking within the Personal Financial Services (PFS) unit and had joined Northern Trust in 2000 as a PFS manager for the Midwest region. Prior to Northern Trust, Logan worked since 1981 at Bank of America (formerly Continental Bank) in Chicago, where he held leadership positions in the Private Bank and Domestic Portfolio Management Group. Logan holds a B.A. degree in Accounting and Economics from Florida A&M University and an M.B.A. degree in Finance from the University of Chicago. He serves on the boards of Children's Memorial Hospital, National Public Radio, The Spencer Foundation, The Field Foundation and DeVry, Inc.
"The Global Financial Institutions Group marks a new stage of Northern Trust's evolution as a globally active organization," Logan said. "I am excited by this leadership position and eager to work closely with institutions that are already important partners, suppliers and distributors for Northern Trust, to realize the potential of this opportunity to support our continued global growth."
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 September 30, 2009, Northern Trust had assets under custody of US$3.6 trillion, and assets under investment management of US$611 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 www.northerntrust.com.
SOURCE Northern Trust Corporation