Northern Trust has been doing business in China to some extent for over a decade, but it views the opening of a new office space in Beijing as a significant milestone in its progress in a highly competitive working environment.
Having struck up notable working relationships with insurance organisations and the National Council for Social Security Funds in Beijing, Northern Trust has established a very worthwhile presence in what is viewed as a crucial market for the American multinational.
Specialising in investment management and fund administration, Northern Trust now employs roughly 2,000 people in bases across the Asia-Pacific. As well as in Beijing, the group has offices in Singapore, Bangalore, Tokyo and Hong Kong.
“We are proud and honoured to serve a variety of significant institutions in China, including the Social Security Fund,” said Michael Wu, Northern Trust’s Beijing branch manager.
“With the approval of a banking branch licence, we can build Northern Trust’s local infrastructure, strengthen our service capabilities and enhance opportunities for sales and business development in China.”
Northern Trust’s chairman and chief executive, Frederick H Waddell, commented: “To me, what this branch office really represents is another step along a road of shared growth and prosperity and a commitment from both China and Northern Trust to work together for a brighter future.”
In related news, the Swiss-based investment banking group Julius Baer recently agreed to a deal to have its staff occupy a grade-A office space in Singapore as it looks to expand its presence in the Asia-Pacific region.
Editor’s notes: In May 2023, Northern Trust listed the address of its Beijing office as 2 Jianguomenwai Avenue, Tower C, Yintai Center on its website.
As of June 2022, Northern Trust had $1.7 trillion of assets under management and employed 25,000 people worldwide.
Total annual revenue for 2022 was $7.752 billion, a 19.47 per cent increase over 2021.
The bank was founded in 1889 and is one of the oldest U.S. banks in continuous operation.
As of June 2026, Northern Trust listed No. 5, East Third Ring Mid Road, Unit 2802-2/3, 28th Floor, Fortune Financial Center, Chaoyang District, Beijing, 100020, as its Beijing office on its corporate website.
In January 2026, it was reported that Northern Trust’s asset servicing revenue was up 6.4 per cent in 2025, as its total assets under custody and administration (AUC/A) rose to $18.7 trillion.