Northern Trust's Waddell Interview on Immelt, Hu

Jan. 21 (Bloomberg) -- Frederick Waddell, chief executive officer of Northern Trust Corp., talks about U.S. President Barack Obama's decision to name General Electric Co. Chief Executive Jeffrey Immelt to replace Paul Volcker as head of the president's outside panel of economic advisers. Waddell, speaking with Erik Schatzker on Bloomberg Television's "In the Loop," also discusses Chinese President Hu Jintao's visit to Chicago and tax policy in Illinois. Chicago-based Northern Trust is the third-largest U.S. independent custody bank. (Source: Bloomberg)