Northern Trust Extends Sponsorship Of PGA Tour Event Through '16
The PGA Tour and Northern Trust on Friday announced a four-year extension for the Northern Trust Open at Riviera Country Club in L.A. through '16. The Chicago-based bank's original five-year title sponsorship agreement expires after the '12 tournament (THE DAILY). CRAIN'S CHICAGO's Steve Daniels noted Northern Trust "came under withering criticism two years ago after it wined and dined clients and employees during the Northern Trust Open while it held federal bailout funds." There was media speculation in '09 that the bank "might relinquish its sponsorship" But Northern Trust Exec VP/Global Marketing Kelly Mannard in an e-mail said, “We've always been proud to sponsor the Northern Trust Open, an event that generates $20 million annually for the Los Angeles economy and raises more than $1 million for charity annually. Sponsorship serves a strong business purpose as well, by elevating our global brand and affording a unique opportunity to interact with clients and prospective clients" (CHICAGOBUSINESS.com, 5/13). Northern Trust Open Exec Dir Jerry West on Friday said the bank's leadership has helped "re-establish the tournament as a major sporting event in Los Angeles" (LATIMES.com, 5/13).