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 Asset Management (NTAM), managing $1.3 trillion in assets, forecasts U.S. stock outperformance in 2025, supported by strong earnings and healthy sales growth. The firm maintains a preference for equities over fixed income in multi-asset portfolios, expecting U.S. equities to benefit from an economic soft landing. In fixed income, NTAM favors high yield bonds due to elevated yields and strong fundamentals.
The outlook includes positive views on small cap equities, money market funds, and private credit. For the U.S. economy, NTAM projects a soft landing with growth slightly below 2024 levels and inflation easing toward 2%. The outlook notes challenges in Europe's economic picture and concerns about China's growth falling short of its 5% target.
Northern Trust (Nasdaq: NTRS) has launched an enhanced active collateral solution in collaboration with CloudMargin to help institutional investors manage their collateral more efficiently. The new capability offers automated asset selection, complex eligibility rules support, real-time data access through client portals, report writing capabilities, and full end-to-end automation. CloudMargin's cloud-native platform serves over 225 institutions globally, providing automated collateral management workflow solutions with real-time analytics and controls.
Northern Trust (NTRS) has published its 2023 Sustainability Report, emphasizing its commitment to strengthening governance and ethical conduct. The company focuses on adapting and enhancing its governance structures and processes to manage global risks effectively. Key aspects include maintaining clear rules and practices, implementing strong ethics frameworks, and ensuring regular policy updates. The approach aims to ensure financial viability, accountability, transparency, and alignment with stakeholder interests.
Northern Trust has announced significant progress in its environmental initiatives, targeting a 50% reduction in GHG emissions across Scope 1, 2, and partial Scope 3 by 2030 from a 2019 baseline, with the ultimate goal of achieving Net Zero carbon emissions from operations by 2050. The company completed four LED lighting projects in 2023, saving approximately 60 tons of carbon. Energy consumption per full-time employee has decreased by 27%, with estimated absolute emissions reduction of 3.4% versus 2019 baseline. The company is implementing Environmental and Energy Management Systems in key locations and partnering with organizations like Climate Vault to support carbon removal technologies.
Northern Trust has announced its participation in the Goldman Sachs 2024 US Financial Services Conference in New York City. Chairman and CEO Michael O'Grady and CFO David Fox will represent the company at the event on Wednesday, December 11, 2024, at 11:20 a.m. (ET).
The presentation will be accessible through a live webcast on Northern Trust's website in the investor relations section, with a replay available for approximately four weeks following the event.
Northern Trust (NTRS) has been selected to provide custody services for the Fiji National Provident Fund (FNPF), Fiji's sole compulsory Superannuation Fund. FNPF manages retirement savings for Fijian workforce through a multi-asset class approach, including listed equities, fixed-income securities, private markets, and real estate. This selection marks Northern Trust's first institutional client in Fiji, expanding its footprint in the Asia Pacific region where it maintains offices across ten major cities and serves various institutional clients including central banks, sovereign wealth funds, and asset managers.
Northern Trust reported record-breaking employee volunteering in 2023, with staff contributing 106,000 hours of service throughout the year, including nearly 53,000 hours during October's global month of service, Achieving Greater Together. The company supported over 1,700 organizations worldwide through various initiatives, from shelter painting in India to beach clean-ups in Australia. For every volunteer hour in October, Northern Trust donated 50 meals, resulting in over 2.6 million meals contributed. The company maintained an 'Outstanding' Community Reinvestment Act rating for the 28th consecutive year, with a community investment portfolio exceeding $4.6 billion.
Northern Trust Asset Management (NTAM), managing $1.3 trillion in assets, has appointed Peter Wilke, CFA as Head of Tactical Asset Allocation. Wilke will lead a team conducting global macroeconomic research that drives NTAM's investment views on market-moving factors. Reporting to CIO Anwiti Bahuguna, he brings over 20 years of multi-asset investment experience from previous roles at Wellington Management, BlackRock, and Deutsche Bank. The appointment aims to strengthen NTAM's investment capabilities and enhance their economic research process.
Northern Trust Asset Management (NTAM) has appointed Jan Rohof as Director of Quantitative Solutions for Asia Pacific, based in Melbourne. This appointment is part of a series of global quantitative appointments, following the 2023 hiring of Guido Baltussen as head of Quantitative Strategies International. Rohof will lead NTAM's quantitative investment solutions in APAC, focusing on creating tailored investment strategies for clients. Previously at Robeco for ten years, Rohof joins NTAM's global team of over 40 quantitative investment professionals. The firm manages approximately US$40.4 billion in quantitative active strategies as of September 30, 2024.
Northern Trust has secured three major awards from Professional Wealth Management and The Banker magazines, including 'Best Private Bank in the U.S.' for the 13th time, 'Best Private Bank in North America for Entrepreneurs', and 'Best Private Bank in North America for Ultra High Net Worth Clients'. The awards recognize Northern Trust's excellence in wealth management, particularly noting their data analysis capabilities and comprehensive services for entrepreneurs and family businesses. With over $440 billion in assets under management, the company serves affluent individuals, families, and businesses through specialized teams offering tailored wealth management solutions, succession planning, and commercial banking services.