Northern Trust’s prominent and oft-quoted chief economist Paul L. Kasriel will join the faculty of DePaul University’s Kellstadt Graduate School of Business, as a clinical professor of finance this winter.

While continuing his work as senior vice president and director of economic research at Northern Trust, Kasriel will teach an MBA course, “Money and Capital Markets,” with DePaul Associate Professor of Finance Elijah Brewer III, a Federal Reserve Bank of Chicago consultant, beginning in January. His appointment is part of DePaul’s plans to establish a Center for Financial Services, which will oversee educational, research and outreach programs that focus on banking and financial services industry.

With Kasriel’s appointment, students in DePaul’s highly ranked evening MBA program have an opportunity to study with two of Chicago’s most prominent economists. Diane Swonk, chief economist for Mesirow Financial, has been a clinical professor at DePaul since 2001. Clinical professorships are non-tenure track positions that bring professionals with extensive real-world experience into the classroom.

“Paul’s appointment continues the finance department’s tradition of attracting distinguished members of Chicago’s business community to our faculty to provide students with the practical knowledge they need,” said Ali Fatemi, chair of DePaul’s Finance Department. “Paul interacts regularly with economic policymakers and his forecasts are followed by many. He will help students make a meaningful connection between theory and practice, which is one of the missions of our Center for Financial Services.”

Kasriel said he originally intended to become a teacher when he studied economics in college. After graduation, he instead began his career analyzing developments in the money and capital markets as an economist for the Federal Reserve Bank of Chicago, with stints as a college lecturer. “This opportunity at DePaul allows me to return to teaching through a course that focuses on my first love—central banking,” he said. “I look forward to discussing theory and then examining the data to see if it supports the theory. There are a lot of misconceptions about central banking that I hope to dispel.”

The course will explore how central bank actions interact with asset markets and affect the macro-economy, according to Brewer. “Paul’s vast knowledge of central banking and experience as a Fed watcher will provide students with unique insights into this subject,” he said.

Co-author of the book “Seven Indicators That Move Markets,” Kasriel joined Northern Trust’s economic research unit in 1986 as vice president and economist and was promoted to his current position in 2000. His economic commentaries—containing straightforward and often non-consensus analysis of economic and financial market issues—have attracted a loyal following in the financial community as well as awards and media attention.

Northern Trust’s economic forecasts have earned consistently high rankings for accuracy from Blue Chip Indicators over the years and were rated the most accurate among 50 forecasters it surveyed from 2002 to 2005. For this feat, Kasriel will be awarded the Lawrence R. Klein Award, one of the most prestigious and long-standing awards in the profession, this fall. The forecasts also were chosen among the 10 most accurate in the nation by USA Today in 2004. In addition, Northern Trust’s economic Web site was named among the 10 most interesting by The Wall Street Journal in 2003.

Kasriel earned his bachelor’s degree in economics and graduated with honors from the University of South Florida. He holds a master’s degree in economics from Indiana University.

About DePaul’s Business School

Offering highly respected, practical, flexible programs of business study, DePaul’s College of Commerce in Chicago encompasses the university’s undergraduate business program, with more than 4,000 students, and the Kellstadt Graduate School of Business, which enrolls about 1,800 students. The school’s evening MBA program is ranked 11th in the nation by U.S. News & World Report and has the second largest part-time MBA enrollment in the country. The graduate entrepreneurship program was ranked No. 2 and under graduate entrepreneur program No. 3 among the best in the country by Entrepreneur magazine and Princeton Review. Fortune Small Business magazine has recognized the college’s Ryan Center for Creativity & Innovation for providing one of the 10 “most innovative programs for fledgling business owners.”

About Northern Trust

Northern Trust Corp. is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 84 offices in 18 states and has international offices in 12 locations in North America, Europe and the Asia-Pacific region. As of June 30, 2006, Northern Trust had assets under custody of $3.2 trillion, and assets under investment management of $640 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.