Company Press Release

CHICAGO, Jan. 27 /PRNewswire-FirstCall/ -- Northern Trust announced today that Robert P. Browne has joined as Northern Trust's Chief Investment Officer. Browne comes to Northern Trust with two decades of investment experience, including executive leadership positions at ING Investment Management, Merrill Lynch and JP Morgan.

Browne, 43, is based in Chicago and reports directly to Stephen N. Potter, president of Northern Trust Global Investments.

"Bob Browne is a seasoned professional with the depth and range of experience to effectively lead our investment team at a critical time - a time of turmoil in the global financial markets, but also of great opportunity for a stable, reliable and innovative financial institution such as Northern Trust," Potter said. "With his background in global investment management, Bob combines a relentless focus on performance with excellence in risk management that will serve our institutional and personal investors well."

Browne joins Northern Trust from ING Investment Management in Atlanta, Georgia, which he joined in 2004 and most recently served as Chief Investment Officer for Fixed Income and Proprietary Investments. Browne has extensive global experience, having held senior investment management positions in Japan, the United Kingdom and the United States. With Merrill Lynch Investment Managers, his work included serving as Managing Director and Co-head of North American fixed income teams. Earlier in his career, Browne held senior fixed income portfolio manager positions at JP Morgan in Japan and the U.K.

"This is an exciting opportunity to lead the talented staff of a strong, growing and global multi-asset class investment manager," Browne said. "NTGI has a strong franchise, with core strengths in fixed income, quantitative management and multi-manager investment solutions. It has great potential for growth in active equities, capital markets and new distribution channels. I look forward to working with Steve Potter and the NTGI team to realize the full promise of our asset management organization."

Browne fills a vacancy in the CIO position created by the retirement from Northern Trust of Orie Dudley, who had led the investment team for more than eight years.

"During Orie's tenure as CIO, we have seen an unprecedented growth in assets under management, dynamic changes to our investment business model, expansion in our global product mix and significant improvement in our investment processes and performance," Potter said. "Orie's contributions to these developments have been invaluable and we are grateful for his leadership."

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2008, Northern Trust had assets under custody of US$3.0 trillion, and assets under investment management of US$575.5 billion. Northern Trust, founded in 1889, 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/.