Northern Trust Names General Auditor

CHICAGO-( Business Wire )-

Northern Trust (Nasdaq:NTRS), a leading provider of financial services for affluent individuals, families and institutions, announced today that Kandace K. Heck has been named General Auditor, effective March 1, 2012. Heck succeeds Dan E. Phelps, who announced his pending retirement in 2011 after 15 years with Northern Trust.

As General Auditor, Heck will lead Northern Trust’s global audit services function, consisting of approximately 100 auditors based in the U.S., Europe and Asia-Pacific. Heck will oversee the company’s comprehensive financial and operational audit program, which includes reviews of product changes and business expansion.

“Kandace brings nearly 25 years of financial services experience to Northern Trust, with a high-level of expertise and international experience in financial and regulatory reporting and risk assessment management,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “We’re confident that Kandace will continue to advance our increasingly important and visible audit function, further enhancing its performance and supporting Northern Trust’s growth.”

Heck joins Northern Trust from The Goldman Sachs Group, Inc., where she most recently served as a managing director and audit director of the bank holding company. She was jointly responsible for managing and driving the global execution of the firm’s annual audit plan and strategic initiatives. Over the course of her 18-year career at Goldman Sachs, Heck held a series of positions, including global legal entity controller and joint venture liaison in Sydney/Melbourne.

Heck, a certified public accountant, earned her undergraduate degree in accounting and business from Aquinas College in Grand Rapids, Mich., and received her MBA in finance and international business from the Stern School of Business at New York University.

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 December 31, 2011, Northern Trust had assets under custody of US$4.3 trillion, and assets under investment management of US$662.9 billion. For more than 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

Media Contact:Northern Trust CorporationDoug Holt, 312-557-1571Doug_Holt@ntrs.com

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