Northern Trust Stock Price, News & Analysis

Northern Trust Asset Management (NTAM), with $1.2 trillion in assets under management, has appointed Lyenda Simpson Delp as Head of the Global Institutional Client Group, effective December 3. Lyenda will lead the strategic direction and commercial success of NTAM's institutional businesses across the Americas, Europe, Middle East, and Asia-Pacific regions, overseeing more than $900 billion of institutional AUM as of June 30, 2024.

Lyenda brings over 30 years of experience in asset management, including 15 years at BlackRock where she most recently served as head of Financial Institutions Group for the Americas. She will report to NTAM President Daniel Gamba and join the company's leadership team. Lyenda's appointment is expected to enhance NTAM's ability to deliver exceptional client outcomes and help global clients meet their investment objectives.

Northern Trust, in collaboration with The Talent Tap, recently hosted a Future Talent Programme at their London office. This initiative supports Northern Trust's commitment to social mobility and socioeconomic diversity in the workplace. The programme, designed for Year 12 students across the UK, aims to break down geographical and socioeconomic barriers by providing work experience, internships, and employability workshops.

The event included introductory sessions on financial services, team meet-and-greets, an early career panel discussion, mock assessment centres, and team-building presentations. This partnership aligns with Northern Trust's goal of creating accessible and equitable pathways into meaningful careers for young people from diverse backgrounds.

Northern Trust has announced a decrease in its prime rate from 8.50% to 8.00%, effective Thursday, September 19, 2024. This 50 basis point reduction in the prime rate could have significant implications for borrowers and the broader financial market. The prime rate is a key benchmark used by many financial institutions to set interest rates for various lending products, including credit cards, mortgages, and business loans.

Northern Trust India hosted its 2024 Bring Your Child to Work Day, organized by the Working Families Business Resource Council. Over 300 partners participated in this event, which featured various activities including a magic show, hula hoop artist, drawing competition, and food stalls. The day concluded with performances by partners and their children at the Celebrate Life event. Grace Vasanthi, Executive Sponsor of the Working Families India Chapter, praised the event for reflecting the company's culture of care and its positive impact on partners and families.

Northern Trust (Nasdaq: NTRS) has expanded its partnership with 2Xideas AG, a Switzerland-based investment firm managing approximately US$2bn in assets. The expansion includes Northern Trust's Integrated Trading Solutions (ITS), adding to the existing fund accounting, financial reporting, transfer agency, custody, and depositary services provided since 2022.

2Xideas, founded in 2013, focuses on liquid mid-cap stocks and manages four funds and several managed accounts. The firm will now utilize Northern Trust's outsourced trading capability exclusively. This move aims to streamline trading processes and provide access to Northern Trust's liquidity and scale, supporting 2Xideas' growth and client service objectives.

Northern Trust's ITS offers worldwide agency-only trading expertise, coverage from multiple locations, high-quality liquidity access, and integrated middle and back-office services. This solution helps asset managers reduce costs, manage risks, and enhance operational efficiency.

Northern Trust (Nasdaq: NTRS) has officially launched The Northern Trust Carbon Ecosystem™, a blockchain-based platform enabling institutional buyers to digitally access carbon credits from project developers. The platform, powered by Northern Trust Matrix Zenith™, has completed its first live transactions with Water Recovery Systems IP and CUT Carbon Distributed Technologies AG selling carbon credits to institutional buyers.

The ecosystem utilizes private ledger digital blockchain technology to facilitate direct purchases and retirements of digital carbon credits, with Northern Trust acting as the designated custodian. This launch supports the growing interest in the Voluntary Carbon Market by providing a digital lifecycle management capability for voluntary carbon credits, offering a seamless and secure settlement experience.

Northern Trust (NTRS) has announced significant leadership changes effective Oct. 1, 2024, as part of its One Northern Trust strategy. The changes aim to optimize growth, strengthen resiliency, and drive productivity. Key appointments include:

- Peter B. Cherecwich as Chief Operating Officer
- Teresa Parker as President of Asset Servicing
- Steven L. Fradkin as Vice Chairman
- Jason Tyler as President of Wealth Management
- David W. Fox Jr. as Chief Financial Officer

These changes reflect the company's commitment to serving clients effectively in a changing landscape while leveraging the strength and depth of its leadership talent.

Northern Trust (Nasdaq: NTRS) has announced an enhancement to its Hedge Fund Services platform, expanding capabilities to support asset managers trading in energy and physical commodities. This addition to the Omnium platform allows for a unified investment and accounting book of record across public markets, private markets, and commodities.

The enhancement addresses the growing demand for energy investing and fills a market gap in servicing these products, which often involve complex settlement processes. It offers customizable web-based dashboards to deliver relevant, actionable information to clients, enabling them to optimize investment strategies.

This development reinforces Northern Trust's commitment to adapting to client needs and supporting alpha-generating opportunities in evolving markets.

Northern Trust has announced that Chief Financial Officer Jason Tyler will participate in the Barclays Global Financial Services Conference in New York City. The event is scheduled for Tuesday, September 10, 2024, at 3:30 p.m. (ET).

Investors and interested parties can access a live webcast of the event through Northern Trust's website in the investor relations section. For those unable to attend or watch live, a replay will be available for approximately four weeks after the session date, providing ample opportunity for stakeholders to catch up on the presentation and any insights shared during the conference.