Welcome to our dedicated page for Northern Trust news (Ticker: NTRS), a resource for investors and traders seeking the latest updates and insights on Northern Trust stock.
Northern Trust Corporation (Nasdaq: NTRS) is a financial services company in the commercial banking and broader finance sector, focusing on wealth management, asset servicing, asset management and banking services for corporations, institutions, affluent families and individuals. The NTRS news feed highlights how the firm’s global platform, institutional relationships and wealth capabilities evolve over time.
News about Northern Trust often covers mandates and client wins with institutional asset owners and investment managers. Recent announcements include expanded global custody and investment operations roles for pension providers, new middle office and investment operations outsourcing appointments, and asset servicing mandates for multi-asset fund ranges. These items illustrate how Northern Trust supports pensions, endowments and other asset owners across custody, fund administration, middle office and currency management.
Coverage also features asset management developments, such as Northern Trust Asset Management’s direct indexing solutions for ultra-high-net-worth portfolios, its views on global investment outlooks, and its role as a global investment manager. These stories provide insight into how the firm approaches capital markets research, portfolio construction, risk management and tax-aware investing.
Investors and observers will also find corporate and leadership updates, including leadership appointments within asset servicing and wealth management, and information on earnings webcasts and conference calls. Banking-related news, such as changes to the company’s prime rate, appears alongside broader commentary on economic conditions and asset class views from Northern Trust Asset Management.
By following NTRS news, readers can track how Northern Trust engages with institutional and wealth clients, how it positions its asset servicing and asset management capabilities, and how management communicates its perspective on markets and the company’s strategic priorities. This page aggregates these updates in one place for convenient ongoing monitoring.
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.
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.