Exhibit 23.2 CONSENTS OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation by reference in this registration statement of our report dated January 21, 1997, included in the Northern Trust Corporation's Form 10-K for the year ended December 31, 1996 and to all references to our Firm included in this registration statement. /s/ Arthur Andersen LLP ARTHUR ANDERSEN LLP Chicago, Illinois September 16, 1997 As independent public accountants, Hill, Taylor & Co. hereby consent to the incorporation by reference in this Form S-8 of our report dated April 7, 1997, included in the Northern Trust Company's Thrift-Incentive Plan Annual Report on Form 11-K for the year ended December 31, 1996 and to all references to our Firm included in this registration statement. /s/ Hill, Taylor LLC HILL, TAYLOR LLC Chicago, Illinois September 16, 1997 CONSENT OF ATTORNEYS The consent of Rossiter, Ritchie & Porter to the filing of their opinion as an exhibit to this registration statement is contained in their opinion filed as Exhibit 5 hereto.