Northern Trust Stock Price, News & Analysis

Northern Trust (NTRS) has announced two significant appointments to its board of directors. Robert (Bob) Moritz, former global chairman of PricewaterhouseCoopers (PwC), will join effective March 1, 2025, while Richard (Rick) Petrino, a former American Express Company executive, joins immediately.

Moritz brings extensive experience from his tenure at PwC, where he served as global chairman, U.S. chairman and senior partner, and held various leadership roles in financial services and international operations. He currently serves on Walmart's board and is involved with the World Economic Forum's International Business Council.

Petrino's appointment leverages his nearly three-decade career at American Express, where he most recently served as COO of American Express National Bank. His experience includes roles as executive vice president, corporate controller, chief accounting officer, and head of global capital markets.

Northern Trust (NTRS) has secured a significant asset servicing mandate from Platinum Asset Management, a Sydney-based investment firm managing approximately AU$11 billion in global equities funds. Under the new agreement, Northern Trust will provide comprehensive services including custody, fund administration, regulatory reporting, investment operations outsourcing, ETF administration, and collateral management.

The partnership highlights Northern Trust's 'front-to-back' approach and ability to deliver comprehensive and scalable solutions. Platinum Asset Management, established in 1994, selected Northern Trust based on their consultative approach and cultural alignment between the organizations.

National University of Singapore (NUS), Northern Trust, and UOB have launched a pioneering initiative to tokenize green bond credentials using blockchain technology. This first-in-market initiative aims to enhance transparency in ESG reporting, with NUS becoming Singapore's first university to implement blockchain for this purpose.

The project will utilize Northern Trust's Matrix Zenith™ digital assets platform to mint and hold a green bond reporting token containing environmental impact reporting data from NUS' third green bond, issued in 2023. UOB, as lead arranger, will provide feedback on how tokenized data can improve investors' sustainability reporting practices.

This initiative is part of the Monetary Authority of Singapore's Project Guardian, focusing on enhancing financial markets through asset tokenisation. The collaboration is supported by a three-year MoU signed between NUS and Northern Trust in November 2024, aimed at exploring blockchain technology applications in green finance practices.

Northern Trust Asset Management (NTAM), with $1.3 trillion in assets under management, announced key appointments to strengthen its credit investing and fundamental research capabilities. Kevin Gaydos joins as Head of Credit Research, leading a team focused on investment grade and high yield issuers.

Additional appointments include Sau Mui as Senior High Yield Portfolio Manager, Jeff Jones as Senior High Yield Trader, Melinda Lans-Kautz as Senior Credit Research Analyst, and Adán Jiménez as Credit Research Analyst. These professionals bring extensive experience from institutions like Aviva Investors, PPM America, and Goldman Sachs.

NTAM manages $486.5 billion in fixed income and liquidity strategies as of September 30, 2024. The company's outlook for 2025 favors high yield bonds due to elevated yields, strong fundamentals, and supportive market conditions.

Northern Trust (NTRS) has appointed Melanie Pickett as Head of Asset Servicing, Americas, effective January 1, 2025. In this role, she will lead the business serving institutional, corporate, and asset manager clients in the region. Pickett, who has served as Head of Asset Owners Americas since 2022, will maintain oversight of product and service delivery to asset owner clients while expanding her responsibilities to include asset manager clients.

Under Pickett's leadership, Asset Owners Americas has achieved significant growth in new clients and assets under custody and administration, as well as success with A-Suite by Northern Trust, a community platform for asset allocators. Pickett joined Northern Trust in 2017 to lead the development of Front Office Solutions. Her prior experience includes serving as COO at Emory Investment Management and managing operations and technology strategy at Morgan Stanley's Global Wealth Management division.

Northern Trust (NTRS) has announced it will host a live webcast of its fourth quarter 2024 earnings conference call on Thursday, January 23, 2025 at 8:00 a.m. CT. The company will release its Q4 2024 earnings press release the same morning before the call. The webcast, earnings release, and related presentation materials will be available on Northern Trust's website. Investors can access a replay of the webcast for approximately four weeks following the call.

Northern Trust's FlexShares has announced the liquidation and termination of the FlexShares International Quality Dividend Defensive Index Fund (IQDE). The fund will cease accepting creation unit purchase orders after 3:00 p.m. ET on January 17, 2025.

Trading of the fund's shares will be suspended before market open on January 22, 2025, with the final trading day being January 21, 2025. Shareholders can sell their shares until the close of trading on January 21, 2025, subject to standard brokerage fees. Those who retain their shares will receive cash equal to the NAV calculated at the close of business on the closing date, with liquidation proceeds expected around January 28, 2025.

Remaining shareholders won't incur fund transaction fees, but the NAV will reflect costs from selling portfolio securities. The liquidation may have tax implications, and shareholders are advised to consult tax professionals.

Northern Trust has announced the completion of its six-month leadership development program called 'Moving Up', which was successfully completed by 17 female partners from their offices in Australia, Singapore, Hong Kong, and Beijing. The comprehensive program included workshops, external expert coaching, mentoring, and People Leader 360 Sessions with managers. Senior female leaders across APAC participated in peer coaching sessions to share their experiences.

The program enabled participants to address workplace challenges and biases while building a professional network. According to Executive Vice President Asia Pacific Angelo Calvitto, the initiative reflects Northern Trust's commitment to developing talent and helping employees reach their full potential.

Northern Trust (NTRS) has announced a reduction in its prime rate, lowering it from 7.75% to 7.50%. The new rate will take effect on Thursday, December 19, 2024.