Northern Trust Stock Price, News & Analysis

Northern Trust has published its latest Sustainability Report, focusing on sustainability efforts that benefit clients, employees, shareholders, communities, and the environment. Chairman and CEO Michael O’Grady and Head of Corporate Sustainability, Kimberly Evans, emphasized the importance of ethical business practices, risk management, and community care.

Key achievements in 2023 include maintaining an outstanding Community Reinvestment Act (CRA) rating for the 28th year, with community investments exceeding $4.6 billion; supporting over 900 charities worldwide, and contributing 106,000 hours of volunteer work by employees; increasing diverse supplier spending from 6% to 10%; and enhancing climate risk management by reducing energy consumption by 27% and implementing Energy and Environmental Management Systems (EMS) in offices in Europe and the Middle East. The report also highlights ongoing efforts in diversity, equity, and inclusion.

Northern Trust remains committed to making a positive, sustainable impact in collaboration with stakeholders.

Northern Trust announced the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR) results, indicating a 2.5% Stress Capital Buffer (SCB), unchanged from the current level. This SCB will be effective from October 1, 2024, to September 30, 2025, ensuring a minimum common equity tier 1 (CET1) ratio of 7%. CEO Michael O’Grady emphasized the strength of Northern Trust's capital position and business model. Northern Trust plans to maintain its quarterly cash dividend of $0.75 per share, subject to board approval, and will evaluate potential stock repurchases based on its strong capital position and market conditions.

On June 27, 2024, Northern Trust celebrated Reserves Day on June 26th and Armed Forces Day on June 29th. The company's Military Appreciation and Assistance Business Resource Council (MAARC) collaborated with the Women in Leadership Business Resource Council at their London office. The event featured former British Army personnel Jeannie Saville and Bridget Forster, who shared their military experiences and career insights. David Brooks MBCI, MAARC Co-Chair, led the discussion, highlighting the challenges and successes of female military leaders. Northern Trust, a gold award signatory of the Armed Forces Covenant, has been recognized as a top 50 employer of veterans in the UK.

Northern Trust (Nasdaq: NTRS) has been chosen by Canada Life Asset Management (CLAM) to provide comprehensive asset servicing solutions, which include middle office outsourcing, global custody, securities lending, fund administration, and depositary services. This partnership consolidates all middle office solutions under Northern Trust and includes investment book of record and data solutions.

Headquartered in London, CLAM manages over £39.6 billion across various asset classes like fixed income, equities, UK property, and multi-asset solutions. This move aims to enhance operating model efficiency and data quality, aligning with institutional asset managers' and owners' needs for simplified yet complex management models.

Mark Giancola, COO of CLAM, expressed confidence in Northern Trust's ability to support their diverse investments and deliver high-quality data. Laurence Everitt, Northern Trust's Head of Global Fund Services, UK, highlighted their investment in technology and global operating model as key factors in meeting CLAM’s requirements.

Northern Trust has announced that its Hedge Fund Services team recently collaborated with MAARC and ExodusPoint Capital Management for a global exercise event to support military service members, veterans, and first responders. Initiated in 2011, the Military Appreciation & Assistance Resource Council (MAARC) has expanded internationally, engaging partners to ensure support for military families. The event took place in key locations including New York, Chicago, Bangalore, and Tempe, highlighting the company's commitment to community service and military appreciation.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets as of March 31, 2024, has appointed Naoto Komoro to head its Japan office. Komoro, who will continue as Head of Institutional Client Group, Japan, will also become Representative Director and Chair of the Board of NTGI, pending regulatory approval. Reporting to John McCareins and Bert Rebelo, Komoro brings extensive experience from his tenure at Northern Trust since 2007 and previous roles at Mizuho Trust & Banking Co. His appointment aims to drive strategic growth in the Japanese market. NTAM offers multi-asset management and investment advisory services to pensions funds, non-profits, and financial intermediaries in Japan.

Northern Trust has welcomed its 2024 summer interns across various North American offices, including locations in Chicago, Naperville, Boston, LA, Dallas, Miami, Coral Gables, Jersey City, New York, Tempe, and Phoenix. The company's Chairman and CEO, Mike O'Grady, addressed the new interns, encouraging them to embrace their experiences with confidence. The initiative aims to foster learning and leadership among students and graduates. The interns' enthusiasm is anticipated to positively impact Northern Trust's operations over the coming months.

Northern Trust has been awarded GOLD in the Small Employers Category at the 2024 Australian Workplace Equality Index (AWEI) Awards. This recognition, presented by Pride in Diversity, highlights Northern Trust's commitment to workplace equality and inclusive practices. The AWEI awards are a benchmark for LGBTQ+ workplace inclusion in Australia, and this accolade marks a significant achievement for Northern Trust, emphasizing their dedication to fostering a diverse and supportive work environment.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets as of March 31, 2024, has appointed David Abner as Head of Global ETFs and Funds.

Abner, an ETF industry pioneer, will oversee NTAM’s mutual fund and ETF strategy, product management, capital markets, and treasury functions. NTAM manages over $230 billion in U.S. mutual funds and global ETFs. NTAM President Daniel Gamba highlights Abner's leadership as key to driving growth and innovation.

Abner brings extensive experience, including roles at Gemini Crypto Exchange and WisdomTree Asset Management. He will report to NTAM's Global Head of Product, Paula Kar, aiming to enhance NTAM's client investment solutions.