Northern Trust Stock Price, News & Analysis

Northern Trust has announced the appointment of Srilatha Lakkaraju as the new Director of Charitable Giving Solutions for their Foundation & Institutional Advisors (FIA) practice. In this role, Lakkaraju will oversee the national strategy and implementation of Donor Advised Fund and Private Foundation Administration solutions.

Lakkaraju brings 14 years of experience from Bank of America, where she managed private foundations and nonprofit organizations nationwide. Her background includes public policy advocacy for nonprofit tax policy, governance, and compliance issues.

Darius A. Gill, National Practice Executive for FIA, expressed excitement about Lakkaraju joining the team, highlighting her expertise as valuable for accelerating growth in their charitable giving solutions. Lakkaraju holds a Master of Science in Public Service from DePaul University and a Bachelor of Science in Management of Information Systems from the University of Illinois at Urbana-Champaign.

Northern Trust has appointed Srilatha Lakkaraju as the Director of Charitable Giving Solutions within its Foundation & Institutional Advisors (FIA) practice. In this role, Lakkaraju will oversee the national strategy and implementation of Donor Advised Fund and Private Foundation Administration solutions.

Lakkaraju brings 14 years of experience from Bank of America, where she managed private foundations and nonprofit organizations nationwide. Her background includes public policy advocacy for nonprofit tax policy, governance, and compliance issues.

Darius A. Gill, National Practice Executive for FIA, expressed excitement about Lakkaraju joining the team, highlighting her expertise as valuable for accelerating growth in their charitable giving solutions. Northern Trust's FIA practice serves nonprofit organizations and private foundations through investment management solutions, strategic insights, and resources to help achieve financial and philanthropic goals.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets as of June 30, 2024, has announced two strategic hires to strengthen its Wealth Client Group. Michael Gottesman joins as National Sales Manager, Wealth Management, and Wesley Urick as Head of Strategic Accounts, Wealth Management.

Gottesman, with 27 years of industry experience, will lead sales and client service strategy. Urick, bringing over 30 years of expertise, will focus on NTAM's strategic relationship with Northern Trust Wealth Management's Investment Practice. Both are based in Chicago and report to NTAM Wealth Client Group Co-Heads Sunitha Thomas and Suzanne Casey.

These appointments aim to drive growth, strengthen relationships, and deliver innovative investment solutions to Northern Trust Wealth Management clients.

Northern Trust (NTRS) has announced plans to webcast its third quarter 2024 earnings conference call. The event is scheduled for Wednesday, October 23, 2024, at 8:30 a.m. (CT). Investors and interested parties will be able to access the live webcast, earnings press release, and related presentation materials on Northern Trust's website. The company will release its third quarter 2024 earnings press release on the morning of the call. For those unable to attend the live event, a replay of the webcast will be available for approximately four weeks following the call date.

Northern Trust Wealth Management has announced two key leadership changes. Dino De Vita has been appointed as President of Global Family & Private Investment Offices (GFO), while Marc Cosentino has been named West Region President of Northern Trust Wealth Management. These appointments aim to support the company's growth and address clients' complex needs.

De Vita will lead a global team of over 300 professionals, serving more than 500 ultra-high-net-worth individuals and their family offices worldwide. Cosentino will oversee the wealth management business in the West Region, covering six states. Both executives bring extensive experience within Northern Trust to their new roles.

Northern Trust Wealth Management offers comprehensive services for affluent individuals, families, foundations, and businesses, managing $419.4 billion in assets as of June 30, 2024.

Northern Trust's recent technology symposium, 'Tech Horizons: Exploring the Future of Innovation', held in London on September 17, 2024, revealed key insights into the evolving data landscape for institutional investors. The live poll survey of over 100 investment professionals and industry consultants highlighted several important trends:

Digital assets are gaining traction, with 34% of respondents already incorporating or planning to add them to their portfolios. Private assets (66%), real world assets (53%), and money market funds (36%) are expected to benefit most from digital formats.

Cybersecurity remains a top concern, with 88% identifying it as a major issue. AI-driven threats are also a significant worry for 81% of respondents. However, AI is seen as potentially beneficial for portfolio optimization (over one-third), manager due diligence (26%), and risk management (21%).

The survey also revealed that only 62% of respondents have a data strategy in place, indicating a gap between recognizing data's importance and effectively integrating it into business strategies.

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.