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 reports developments across wealth management, asset servicing, asset management and banking for institutions, corporations, affluent families and individuals. News about Northern Trust commonly covers client mandates for global custody, securities lending, fund administration, depositary services, investment operations outsourcing and accounting services, including work with public retirement systems and ETF platforms.
Recurring updates also include Northern Trust Universe performance data for pension and institutional investment plans, wealth management leadership and Global Family Office activity, quarterly financial results, common and preferred stock dividends, and technology collaborations that support investment operations workflows and reporting.
Northern Trust (NTRS) completed a record-breaking month of service with employees contributing 61,000 volunteer hours to support more than 1,600 nonprofit organizations across 20 countries. The 'Achieving Greater Together' initiative included activities like blood donation drives in India, animal shelter support in Luxembourg, and food donation assistance in the UK. The company provides employees with two paid volunteer days annually and pledges 50 meals for every hour volunteered in October. This year's efforts resulted in a pledge of over 3 million meals through partnerships with global food banking networks.
Northern Trust Asset Management (NTAM), managing $1.3 trillion in assets, has appointed Robert Eaton as Senior Relationship Manager within their Wealth Client Group. Eaton brings over 20 years of experience in asset management, ETFs, and wealth-tech, previously serving as Head of Strategic Relationships at BondBloxx Investment Management ETFs and various leadership roles at BlackRock. His expertise spans relationship management, product strategy, portfolio analytics, and wealth-tech business development across different wealth channels.
Northern Trust (NTRS) has been appointed as custodian by Cadent Gas Pension Trustee for its £4.6 billion (US$6 billion) defined benefit scheme. The appointment, following an independent due diligence exercise, covers custody services for public and private assets, along with performance and SORP reporting. Northern Trust's asset owner business currently services over 370 clients with US$2.8 trillion in assets under custody across Europe, Middle East and Africa as of August 2024.
Canadian pension plans achieved strong performance in Q3 2023, with the Northern Trust Canada Universe reporting a median return of 4.8% for the quarter and 8.4% year-to-date as of September 30. The positive results were driven by robust performance in both stocks and bonds, with Canadian equities leading at 10.5% returns. The quarter saw significant monetary policy shifts, including the U.S. Federal Reserve's 50-basis point rate cut and the Bank of Canada's 25-basis point cut to 4.25%. The Canadian Fixed Income market advanced 4.7%, while international markets also showed strong performance with the MSCI EAFE Index recording 6.0% in CAD.
Northern Trust announced the release of its third quarter 2024 financial results. The company will host an earnings conference call on October 23, 2024, at 8:30 a.m. CT, which will be accessible via webcast on their website. The webcast recording will be available for approximately four weeks after the live event. Detailed financial results can be accessed through Northern Trust's website and their SEC filing on Form 8-K.
Northern Trust (Nasdaq: NTRS) has announced quarterly dividend declarations for its common and preferred stock. The company will pay a cash dividend of $0.75 per share on its common stock, payable on January 1, 2025, to shareholders of record as of December 6, 2024. Additionally, Northern Trust declared a cash dividend of $293.75 per share on its Series E non-cumulative perpetual preferred stock, resulting in a distribution of $0.29375 per depository share. This preferred stock dividend is also payable on January 1, 2025, to holders of record as of December 15, 2024.
Northern Trust (Nasdaq: NTRS) has announced a strategic agreement with Hamilton Lane (Nasdaq: HLNE) to provide Hamilton Lane's proprietary software Cobalt LP® and integrated services to Northern Trust Asset Servicing clients. This collaboration aims to offer advanced private market analytics and decision support to Northern Trust clients.
The agreement includes access to Hamilton Lane's private market data, analytics, and tools through Northern Trust's Total Portfolio Analytics solutions. Clients will benefit from Cobalt LP®'s advanced analytics and pre-commitment research capabilities, as well as Hamilton Lane's portfolio company data service for tracking core metrics across private markets portfolios.
This partnership addresses the increasing need for sophisticated analytics as global clients maintain significant exposure to private markets. It combines Hamilton Lane's front office analytics with Northern Trust's core Front Office Solutions investment book of record (IBOR) support, offering a comprehensive front-to-back office decision-making solution.
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.