Northern Trust Corp.

Northern Trust Corp.
NortherntrustLogo.jpg
Founded 1889
Headquarters Chicago, Illinois
Key People Chairman of the Board, Frederick H. Waddell; President of Personal Financial Services, Sherry S. Barrat
Products Financial holding company that provides investment management, asset and fund administration, fiduciary, and banking solutions.
Website www.northerntrust.com

Northern Trust Corp. is a global provider of investment management, asset and fund administration, fiduciary and banking services for corporations, institutions and affluent individuals.[1]

It is based in Chicago and has 85 offices in 18 U.S. states. The corporation also has international offices in North America, Europe, the Middle East and the Asia-Pacific region. As of September of 2008, Northern Trust had assets under custody of $3.5 trillion, assets under management of $652.4 billion and banking assets of $79 billion.[2]

History

Products and Services

The corporation distributes products and services through its two business units: Personal Financial Services and Corporate and Institutional Services. Both business units are supported by Northern Trust Global Investments, a multi-asset class investment management business and Worldwide Operations and Technology, the backbone of the corporation's information technology infrastructure and transactional processing.

Northern Trust Global Investments was named the largest Chicago money manager by Crain's Chicago Business on June 30, 2007.

In February of 2008, Northern Trust Global Investments announced it would jump into the exchange-traded fund business with plans to launch 22 different ETFs. The majority of the funds track indexes tied to local exchanges in different countries. For instance, one ETF tracks the BEL 20 index in Belgium and another tracks the Hang Seng index in Hong Kong.[3]

In May 2011, Northern Trust announced it would acquire Omnium LLC, Citadel LLC's fund administration unit.[4]

Key People

  • Frederick H. Waddell, Chairman of the Board
  • Michael G. O'Grady, Chief Executive Officer and President
  • Jana Schreuder, Chief Operating Officer
  • Peter B. Cherecwich, President of Corporate & Institutional Services
  • Shundrawn A. Thomas, President, Asset Management
  • Steven L. Fradkin, President, Wealth Management

References

  1. Northern Trust Corp: Company Report. MSN.com.
  2. Global Leadership, Enduring Principles. Northern Trust.
  3. Northern Trust Barreling Into ETF Market. Pensions & Investments.
  4. Northern Trust Agrees to Acquire Omnium Unit From Ken Griffin’s Citadel. Bloomberg.
Last modified on 1 August 2018, at 15:37