Welcome to our dedicated page for Northern Trust news (Ticker: NTRS), a resource for investors and traders seeking the latest updates and insights on Northern Trust stock.
Northern Trust Corporation (NASDAQ: NTRS) is a prominent provider of wealth management, asset servicing, asset management, and banking services to corporations, institutions, affluent families, and individuals. Founded in Chicago in 1889, Northern Trust has expanded its presence globally with offices in 20 U.S. states and Washington, D.C., as well as 23 international locations in Canada, Europe, the Middle East, and the Asia-Pacific region.
As of December 31, 2023, Northern Trust boasts assets under custody or administration of $15.4 trillion and assets under management amounting to $1.4 trillion. This impressive portfolio underscores Northern Trust’s status as a leader in the financial services industry, renowned for its exceptional service, financial expertise, integrity, and continuous innovation over more than 125 years.
Northern Trust is committed to providing comprehensive financial solutions that meet the diverse needs of its clients. Its wealth management services include investment management, trust and estate planning, and private banking. The asset servicing division offers custody, fund administration, and middle office outsourcing for institutional clients. Additionally, Northern Trust’s asset management division delivers a broad range of investment solutions designed to meet the financial objectives of institutional and individual investors.
Recent achievements highlight Northern Trust's ongoing commitment to innovation and inclusivity. For instance, the Northern Trust Ireland team recently hosted the Guidance and Industry Network (GaIN) event, focusing on modern-day recruitment campaigns and inclusive hiring strategies. Moreover, Northern Trust sponsored the Black Professionals & Leaders Dinner at Arizona State University, supporting efforts to bridge the gap between black undergraduate students and professionals.
Northern Trust’s dedication to diversity and community engagement is evident through its partnerships with organizations like Dublin City University and the 30% Club Ireland, aiming to achieve better gender balance for enhanced business outcomes. The firm continues to invest in talent development, offering various career opportunities and fostering a collaborative, team-oriented environment.
For those looking to invest, Northern Trust represents a stable and innovative option within the financial services sector, with a strong track record of adapting to market changes and maintaining long-term client relationships. Stay updated with the latest news and developments from Northern Trust to make informed investment decisions.
Latest News:
- January 23, 2024 - Northern Trust hosted the GaIN event in Ireland, in collaboration with Dublin City University, focusing on career guidance and inclusive hiring strategies.
- February 9, 2024 - Northern Trust sponsored the Black Professionals & Leaders Dinner at Arizona State University, bridging the gap between students and professionals.
Canadian pension plans achieved strong performance in Q3 2023, with the Northern Trust Canada Universe reporting a median return of 4.8% for the quarter and 8.4% year-to-date as of September 30. The positive results were driven by robust performance in both stocks and bonds, with Canadian equities leading at 10.5% returns. The quarter saw significant monetary policy shifts, including the U.S. Federal Reserve's 50-basis point rate cut and the Bank of Canada's 25-basis point cut to 4.25%. The Canadian Fixed Income market advanced 4.7%, while international markets also showed strong performance with the MSCI EAFE Index recording 6.0% in CAD.
Northern Trust announced the release of its third quarter 2024 financial results. The company will host an earnings conference call on October 23, 2024, at 8:30 a.m. CT, which will be accessible via webcast on their website. The webcast recording will be available for approximately four weeks after the live event. Detailed financial results can be accessed through Northern Trust's website and their SEC filing on Form 8-K.
Northern Trust (Nasdaq: NTRS) has announced quarterly dividend declarations for its common and preferred stock. The company will pay a cash dividend of $0.75 per share on its common stock, payable on January 1, 2025, to shareholders of record as of December 6, 2024. Additionally, Northern Trust declared a cash dividend of $293.75 per share on its Series E non-cumulative perpetual preferred stock, resulting in a distribution of $0.29375 per depository share. This preferred stock dividend is also payable on January 1, 2025, to holders of record as of December 15, 2024.
Northern Trust (Nasdaq: NTRS) has announced a strategic agreement with Hamilton Lane (Nasdaq: HLNE) to provide Hamilton Lane's proprietary software Cobalt LP® and integrated services to Northern Trust Asset Servicing clients. This collaboration aims to offer advanced private market analytics and decision support to Northern Trust clients.
The agreement includes access to Hamilton Lane's private market data, analytics, and tools through Northern Trust's Total Portfolio Analytics solutions. Clients will benefit from Cobalt LP®'s advanced analytics and pre-commitment research capabilities, as well as Hamilton Lane's portfolio company data service for tracking core metrics across private markets portfolios.
This partnership addresses the increasing need for sophisticated analytics as global clients maintain significant exposure to private markets. It combines Hamilton Lane's front office analytics with Northern Trust's core Front Office Solutions investment book of record (IBOR) support, offering a comprehensive front-to-back office decision-making solution.
Northern Trust has announced the appointment of Srilatha Lakkaraju as the new Director of Charitable Giving Solutions for their Foundation & Institutional Advisors (FIA) practice. In this role, Lakkaraju will oversee the national strategy and implementation of Donor Advised Fund and Private Foundation Administration solutions.
Lakkaraju brings 14 years of experience from Bank of America, where she managed private foundations and nonprofit organizations nationwide. Her background includes public policy advocacy for nonprofit tax policy, governance, and compliance issues.
Darius A. Gill, National Practice Executive for FIA, expressed excitement about Lakkaraju joining the team, highlighting her expertise as valuable for accelerating growth in their charitable giving solutions. Lakkaraju holds a Master of Science in Public Service from DePaul University and a Bachelor of Science in Management of Information Systems from the University of Illinois at Urbana-Champaign.
Northern Trust has appointed Srilatha Lakkaraju as the Director of Charitable Giving Solutions within its Foundation & Institutional Advisors (FIA) practice. In this role, Lakkaraju will oversee the national strategy and implementation of Donor Advised Fund and Private Foundation Administration solutions.
Lakkaraju brings 14 years of experience from Bank of America, where she managed private foundations and nonprofit organizations nationwide. Her background includes public policy advocacy for nonprofit tax policy, governance, and compliance issues.
Darius A. Gill, National Practice Executive for FIA, expressed excitement about Lakkaraju joining the team, highlighting her expertise as valuable for accelerating growth in their charitable giving solutions. Northern Trust's FIA practice serves nonprofit organizations and private foundations through investment management solutions, strategic insights, and resources to help achieve financial and philanthropic goals.
Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets as of June 30, 2024, has announced two strategic hires to strengthen its Wealth Client Group. Michael Gottesman joins as National Sales Manager, Wealth Management, and Wesley Urick as Head of Strategic Accounts, Wealth Management.
Gottesman, with 27 years of industry experience, will lead sales and client service strategy. Urick, bringing over 30 years of expertise, will focus on NTAM's strategic relationship with Northern Trust Wealth Management's Investment Practice. Both are based in Chicago and report to NTAM Wealth Client Group Co-Heads Sunitha Thomas and Suzanne Casey.
These appointments aim to drive growth, strengthen relationships, and deliver innovative investment solutions to Northern Trust Wealth Management clients.
Northern Trust (NTRS) has announced plans to webcast its third quarter 2024 earnings conference call. The event is scheduled for Wednesday, October 23, 2024, at 8:30 a.m. (CT). Investors and interested parties will be able to access the live webcast, earnings press release, and related presentation materials on Northern Trust's website. The company will release its third quarter 2024 earnings press release on the morning of the call. For those unable to attend the live event, a replay of the webcast will be available for approximately four weeks following the call date.
Northern Trust Wealth Management has announced two key leadership changes. Dino De Vita has been appointed as President of Global Family & Private Investment Offices (GFO), while Marc Cosentino has been named West Region President of Northern Trust Wealth Management. These appointments aim to support the company's growth and address clients' complex needs.
De Vita will lead a global team of over 300 professionals, serving more than 500 ultra-high-net-worth individuals and their family offices worldwide. Cosentino will oversee the wealth management business in the West Region, covering six states. Both executives bring extensive experience within Northern Trust to their new roles.
Northern Trust Wealth Management offers comprehensive services for affluent individuals, families, foundations, and businesses, managing $419.4 billion in assets as of June 30, 2024.
Northern Trust's recent technology symposium, 'Tech Horizons: Exploring the Future of Innovation', held in London on September 17, 2024, revealed key insights into the evolving data landscape for institutional investors. The live poll survey of over 100 investment professionals and industry consultants highlighted several important trends:
Digital assets are gaining traction, with 34% of respondents already incorporating or planning to add them to their portfolios. Private assets (66%), real world assets (53%), and money market funds (36%) are expected to benefit most from digital formats.
Cybersecurity remains a top concern, with 88% identifying it as a major issue. AI-driven threats are also a significant worry for 81% of respondents. However, AI is seen as potentially beneficial for portfolio optimization (over one-third), manager due diligence (26%), and risk management (21%).
The survey also revealed that only 62% of respondents have a data strategy in place, indicating a gap between recognizing data's importance and effectively integrating it into business strategies.
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