April 21 (Reuters) - Asset and wealth manager Northern

Trust ( NTRS ) posted a rise in first-quarter profit on Tuesday,

as strong markets lifted assets under custody and boosted fee

income.

The Chicago, Illinois-based firm services assets for

institutional clients and benefits from heightened market

activity and portfolio reshuffling.

The results mirrored those of peers BNY and State

Street, both of which also reported higher profits,

helped by volatile markets amid rising geopolitical tensions.

Northern Trust's ( NTRS ) net income for the quarter ended March 31

rose to $525.5 million or $2.71 per share, up from $392 million

or $1.90 per share a year earlier.

Assets under custody and administration as of March 31 rose

10% to $18.55 trillion, while assets under management stood at

$1.78 trillion. Fee income jumped 11% to $1.34 billion.

Net interest income - the difference between what the bank

earns on assets and pays on liabilities - surged 15% in the

quarter to $662 million.

Total revenue rose to $2.21 billion from $1.95 billion in

the year-ago period.

Shares of the company rose about 1% in premarket trading

after it announced results. They have gained over 16% so far

this year.