Northern Trust Global Investment Services plans to expand its wealth management, asset servicing, asset management, fund accounting and hedge fund administration businesses internationally. Stephen Potter, the head of Northern Trust's international market segment, said the company plans to expand in markets such as Germany, Switzerland, the Netherlands and the Nordic region, both by opening regional offices and making strategic acquisitions.

"We can't do all of this at once," he said. "We are looking for a systematic schedule and likely will enter a new market or two annually."

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