Northern Trust Creates Digital Assets and Financial Markets Group

Rhea-AI Summary

Northern Trust has established a new Digital Assets and Financial Markets group, unifying digital and traditional market functions. This initiative, led by Justin Chapman, aims to cater to the growing client interest in both digital and traditional asset classes. With a focus on adapting to changes in the securities industry, the group will provide access to expertise and insights across all markets. Northern Trust, a leading innovator in the digital transformation of securities servicing, manages US$15.5 trillion in assets under custody as of March 2022.

Positive

• Formation of the Digital Assets and Financial Markets group to unify services.
• Recognition of client interest in both digital and traditional assets.
• Access to market-leading expertise through the new combined group.

Negative

• None.

New Asset Servicing team unifies digital and traditional market functions

CHICAGO & LONDON--(BUSINESS WIRE)-- Recognizing the growth of digital markets alongside the continued evolution of the traditional securities services marketplace, Northern Trust (Nasdaq: NTRS) has announced the formation of its Digital Assets and Financial Markets group, which will be led by Justin Chapman who currently is global head of Market Advocacy Innovation and Research.

The new group combines the teams responsible for supporting the fast-growing digital asset markets and those dedicated to providing market access and insights across the traditional securities services markets.

“Clients are increasingly interested in the development of digital markets and investing in digital assets, alongside allocations to more traditional asset classes such as equities, fixed income, alternatives and private assets,” said Pete Cherecwich, president of Asset Servicing at Northern Trust. “Rather than create separate business lines, by aligning our focus on digital and traditional markets together, we can continue to develop services and capabilities that truly reflect and enable our clients’ evolving investment strategies.”

“Traditional and digital markets already co-exist and the boundaries between the two will only continue to blur over time,” Chapman said. “At the same time as more institutional investors are entering the digital arena, the rest of the securities industry is also facing an unprecedented amount of change arising from new regulation, market evolution and the development of emerging technology capabilities. For investors wishing to navigate this environment, our new combined group will provide access to market-leading expertise, industry insights and continued innovations across all markets and all asset classes.”

Northern Trust has been a leading innovator in the digital transformation of securities servicing. From pioneering the use of blockchain technology in private equity fund administration in 2017 to support for the tokenization and fractionalization of bonds in 2020 and partnering in the launch of institutional-grade crypto asset custodian Zodia Custody in 2021.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005208/en/

Media Contacts

Europe, Middle East, Africa & Asia-Pacific:

Camilla Greene

+44 (0) 20 7982 2176

Camilla_Greene@ntrs.com

Marcel Klebba

+ 44 (0) 20 7982 1994

Marcel_Klebba@ntrs.com

US & Canada:

John O’Connell

+1 312 444 2388

John_O’Connell@ntrs.com

http://www.northerntrust.com

Source: Northern Trust Corporation

FAQ

What is the purpose of Northern Trust's new Digital Assets and Financial Markets group?

The new group aims to unify digital and traditional market functions to better serve clients interested in both asset types.

Who is leading the new Digital Assets and Financial Markets group at Northern Trust?

Justin Chapman will lead the new group.

What assets does Northern Trust manage as of March 2022?

Northern Trust manages US$15.5 trillion in assets under custody and US$1.5 trillion in assets under management.

How does Northern Trust plan to adapt to changes in the securities industry?

Northern Trust's new combined group will provide innovative services, insights, and expertise to help clients navigate market evolution.