Chicago —Northern Trust marks 125 years since it first opened its doors for business in 1889. The Chicago-based global bank, established by Byron Laflin Smith, has more than 20 international locations, US$6 trillion in assets under custody and US$924 billion in assets under management.

Founded the same year the Eiffel Tower was completed and the Dakotas, Montana and Washington became states, Northern Trust has weathered the Great Depression, two world wars and the 2008 financial crisis. The bank not only survived, but thrived during these times of significant market and economic stress. Northern Trust achieved strong growth during the Great Depression, with assets growing more than fivefold, and was one of only two of the 20 largest U.S. banks to not cut its dividend payout to shareholders during the Great Recession. Since the financial crisis of 2008, Northern Trust's client assets under custody have doubled and assets under management have grown 65 percent.

"Our 125th anniversary is a celebration of our heritage and continued strength as well as recognition of our clients and employees, without whom this milestone would not have been achieved," Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. "Our commitment to our enduring principles of Service, Expertise and Integrity is at the heart of everything we do, namely serving our clients and the communities in which we operate."

Northern Trust begins a year-long celebration to commemorate its anniversary and recognize employees and clients who contributed to the company's successful history. Among activities:

• Waddell and his leadership team across the globe will greet staff members as they enter offices and thank them for their contributions.

• Northern Trust will host an employee reception at its Chicago headquarters where it will unveil a new anniversary-themed logo and redesigned lobby, and staff house band, "The Exceptions," will perform a song written by an employee commemorating 125 years of success.

"As we expand and take on new challenges and opportunities, our continued reliance on our dedicated employees and core principles will allow us to remain committed to the spirit of the institution Byron Smith founded in 1889," said Waddell.