Northern Trust Stock Price, News & Analysis

Northern Trust has appointed Nikè Anani as the Director of Next Gen Advisory for Wealth Management, a newly established role aimed at enhancing client service for the younger generation managing wealth transitions.

Anani, previously the founder and CEO of a consulting service focused on Next Gen services, brings extensive leadership experience in wealth transfer strategies. With estimates of a projected $80 trillion in wealth transfer over the next 20 years, her role is crucial for addressing clients' needs during this significant transition.

Northern Trust currently manages $351.4 billion in assets as of December 31, 2022.

Northern Trust (NASDAQ: NTRS) announced that Daniel Gamba will be the new President of Asset Management effective April 3. Gamba joins from BlackRock, where he spent 22 years in various leadership roles, including co-head of Fundamental Equities. He has extensive experience in investment management, focusing on driving growth and change. CEO Michael O’Grady expressed confidence in Gamba's ability to lead the firm towards continued growth in investment solutions. Northern Trust manages assets of US$1.2 trillion and has US$13.6 trillion in assets under custody/administration.

Northern Trust (Nasdaq: NTRS) announced its selection by the Illinois Firefighters’ Pension Investment Fund (FPIF) to provide custody services for approximately $8 billion in assets. This transition involves consolidating assets from around 300 firefighter pension funds in suburban Chicago and downstate Illinois. Over a 10-month period, Northern Trust executed the transition of assets from 36 custodians, ensuring adherence to FPIF's timeline. The partnership aims to enhance financial security for firefighters, as emphasized by both Northern Trust and FPIF's leadership. Northern Trust has a long-standing reputation in wealth and asset management since its founding in 1889.

Northern Trust Asset Management (NTAM) has launched the World Natural Capital Paris-Aligned Index strategy, targeting institutional investors. This strategy incorporates climate and natural capital considerations, aligning with the 1.5°C decarbonization pathway. It screens companies linked to ecosystem loss and water pollution, focusing on UN SDGs 14 and 15. NTAM, managing over US$1 trillion in assets as of December 31, 2022, aims to meet the increasing demand for sustainable investment solutions in EMEA and APAC. The strategy is based on extensive experience in socially responsible strategies, promoting a transition to a climate-resilient economy.

Global markets ended Q4 2022 positively, with institutional asset owners seeing a median return of 4.9%. Despite a -12.7% one-year median return, optimism over slowing inflation and monetary policy tightening drove gains. The Northern Trust Universe tracked 368 U.S. institutional plans with assets exceeding $1.17 trillion. The U.S. Equity Program saw an 8.1% median gain, while the S&P 500 rose 7.6%. Fixed income dominated ERISA plans at 51.3%. In contrast, Public Funds had a 5.1% median, with noticeable increases in equity allocations. Northern Trust's assets under custody reached $13.6 trillion.

The Northern Trust Canada Universe reported a 2.8% return for Canadian pension plans in the fourth quarter of 2022, but a -12.8% decline for the year due to market volatility, inflation, and geopolitical uncertainties. The S&P TSX index showed a -5.8% decline for the year, although it fared better than global benchmarks. Despite challenges, pension plan funding levels improved due to rising interest rates. The Canadian economy added 222,000 jobs, lowering the unemployment rate to 5%. Northern Trust remains a key player in wealth management and asset servicing, with assets under management of US$1.2 trillion.

Northern Trust Asset Management, with $1.0 trillion in assets under management as of December 31, 2022, announced the hiring of John Ceffalio as head of Municipal Client Portfolio Management, effective January 9. This newly created role within the global fixed income group aims to enhance client service for its $470 billion in fixed income assets. Ceffalio brings over 20 years of experience from firms like AllianceBernstein and Moody’s and will work closely with portfolio management and research teams. His appointment reflects NTAM’s commitment to adapt to the changing needs of fixed income investors.

Northern Trust Corporation (NASDAQ: NTRS) announced its fourth quarter 2022 financial results, with a conference call scheduled for January 19, 2023, at 8:00 a.m. CT, available via webcast on their website. The company reported assets under custody/administration of US$13.6 trillion and assets under management of US$1.2 trillion as of December 31, 2022. Established in 1889 in Chicago, Northern Trust provides wealth management, asset servicing, and banking services globally, with a strong focus on exceptional service and financial expertise.