Northern Trust Stock Price, News & Analysis

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets, has announced two significant moves to enhance its investment stewardship capabilities:

1. Appointment of Paul Clark as Global Head of Stewardship, based in London. With over 35 years of industry experience, Clark will lead NTAM's investment stewardship strategy and chair the Northern Trust Proxy Voting Committee.

2. Introduction of proxy voting choice for investors in select U.S. common and collective funds. This rollout allows eligible clients representing $250 billion in assets to choose from four voting guideline options, joining $342 billion in separately managed accounts that already have this optionality.

These actions aim to protect and enhance client assets, with NTAM now offering approximately 76% of client equity assets the ability to exercise proxy voting preferences.

Northern Trust (Nasdaq: NTRS) has been selected to provide outsourced trading via its Integrated Trading Solutions (ITS) for True Potential, a UK-based wealth management firm managing £31.7bn in assets. Northern Trust will handle trading for True Potential's internally managed funds, worth approximately £6.1bn. This expands on Northern Trust's existing role as True Potential's custodian, announced in January 2024, which includes fund accounting, transfer agency, custody, and depositary services for True Potential's UK-domiciled fund range.

True Potential chose Northern Trust for its extensive broker access, trading expertise, and transparent commission model. The partnership aims to lower costs for True Potential's clients while enhancing operational efficiency. Northern Trust's ITS combines global trading expertise with integrated middle and back-office services, helping asset managers reduce costs, manage compliance, and improve transparency.

Northern Trust (NTRS) organized a volunteer day for its North America summer interns on National Intern Day, partnering with United Way. Chicago-based interns assembled literacy kits for children associated with the New Moms non-profit program, which supports young mothers in Chicago and the Chicagoland area. Tempe interns participated by making cards for Cardz For Kidz. This event aligns with United Way's focus on community-based solutions for education, financial stability, and health across 1,800 communities in over 40 countries.

The Northern Trust Canada Universe reports that Canadian pension plans saw positive returns in Q2 2024, with a median return of 1.1% for the quarter and 3.5% year-to-date. This performance was driven by global equities gaining momentum, despite volatility early in the period. The Bank of Canada and European Central Bank shifted to a less restrictive monetary policy, while other major central banks remained cautious.

Global equities performed well, led by emerging markets. The S&P 500 Index returned 5.4% in CAD, while the MSCI Emerging Markets Index advanced 6.3% in CAD. Canadian equities saw a modest decline of -0.5%. The Canadian Fixed Income market generated a gain of 0.9% for the quarter, benefiting from the Bank of Canada's interest rate cut.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets, has appointed Xiangrong (Sharon) Jin, Ph.D as Head of Product Strategy. Jin will lead NTAM's global product strategy organization, focusing on innovation, scalable growth, and client-centric solutions across all asset classes, investment strategies, vehicles, and geographies.

Jin brings nearly 20 years of asset management experience, including 15 years at Goldman Sachs Asset Management in senior leadership roles. She holds a Ph.D. in finance from the University of Lausanne, a master's in international finance from Fudan University, and a bachelor's in quantitative finance from Nanjing University.

Northern Trust (NTRS) has been reappointed by Lancashire County Pension Fund to provide custody and performance measurement services for its £11.5 billion (US$14.6 billion) fund. This renewal extends their 13-year partnership, highlighting Northern Trust's commitment to the Local Government Pension Scheme (LGPS) sector.

Lancashire County Pension Fund serves approximately 189,000 employees and over 300 public sector employers in North West England. The reappointment underscores Northern Trust's expertise in serving LGPS clients and its role as a strategic partner to the LGPS community.

Northern Trust's Asset Owner business provides custody services to over 370 clients with US$3.01 trillion in assets under custody across EMEA, as of 31 May 2024. This reappointment reinforces Northern Trust's position as a leading asset servicing provider to UK pension funds.

Northern Trust (NTRS) has released its second quarter 2024 financial results. The company's earnings report is available on its investor relations website and has been filed with the SEC. Northern Trust will host a webcast earnings conference call on July 17, 2024, at 8:30 a.m. CT to discuss the results. Investors and analysts can access the live call through the company's website, and a recording will be available for approximately four weeks afterward. Participants will need Windows Media or Adobe Flash software to join the webcast.

Northern Trust (Nasdaq: NTRS) has declared quarterly cash dividends on its common and preferred stock. The company will pay $0.75 per share on common stock to holders of record as of September 6, 2024, payable on October 1, 2024. For preferred stock, Series D will receive $2,300 per share ($23.00 per depositary share), and Series E will receive $293.75 per share ($0.29375 per depositary share), both payable on October 1, 2024, to holders of record as of September 15, 2024. This dividend declaration demonstrates Northern Trust's commitment to returning value to shareholders and reflects the company's financial stability.

Northern Trust has appointed Ali Nafii as Market Leader in San Diego, where he will direct the wealth management business for high-net-worth individuals and families. Nafii, who joined Northern Trust in 2015, will be responsible for driving strategic growth in San Diego, leading a team that provides investment management, trust, banking, and advisory solutions.

Previously serving as Client Development Market Lead & Senior Portfolio Advisor in Orange County, Nafii's appointment follows impressive new business results in San Diego in 2023. Northern Trust Wealth Management offers holistic wealth management services and has $420.6 billion in assets under management as of March 31, 2024.