Northern Trust Corp - NTRS STOCK NEWS

Northern Trust (NTRS) has been recognized for its commitment to inclusivity with several prestigious awards in 2024. The company was named a Seramount 100 Best Companies winner for its support of working parents, and a Best Companies for Multicultural Women winner for its efforts in recruiting and advancing multicultural women globally. Northern Trust also achieved a 100% score on the Disability Equality Index for the sixth consecutive year, marking its tenth year as a top-scoring company. Additionally, the firm was shortlisted as a finalist for the LGBT+ Inclusion in India Award by Community Business, recognizing its efforts to promote an LGBTQ+ inclusive culture in Asia.

These accolades reflect Northern Trust's ongoing commitment to fostering a diverse and inclusive workplace, demonstrating its 'culture of care and collaboration' through tangible actions to support its employees.

Northern Trust's North America Intern Program has been recognized as one of the top 100 internship programs by Yello.co and WayUp. This achievement highlights the dedication and success of Northern Trust's Campus team in creating valuable opportunities for students and global teams.

The company acknowledges the significant role of internships in their organization and expresses gratitude to all past and present interns for contributing to this recognition. Northern Trust emphasizes the endless opportunities these programs provide for both students and their global teams.

This announcement coincides with National Intern Day, further underscoring the importance of internships in Northern Trust's corporate culture and talent development strategy.

Northern Trust's Q2 2024 data shows subdued global equity market returns, with institutional asset owners in the Northern Trust All Funds Over $100 million plan universe seeing a median return of 1.1%. The Foundation and Endowment universe had a 1.3% median return, Public Funds were up 1.2%, while the Corporate (ERISA) universe was nearly flat at 0.01%.

U.S. equities had mixed results, with growth companies tied to AI performing well. The U.S. Equity Program universe had a 1.9% median return. Large-cap stocks outperformed small-cap, and the U.S. Fixed Income program universe median return was up 0.3%. Fiscal year-end returns for various segments were reported, with Foundations & Endowments showing the strongest performance across one-, three-, and five-year periods.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets, has announced two significant moves to enhance its investment stewardship capabilities:

1. Appointment of Paul Clark as Global Head of Stewardship, based in London. With over 35 years of industry experience, Clark will lead NTAM's investment stewardship strategy and chair the Northern Trust Proxy Voting Committee.

2. Introduction of proxy voting choice for investors in select U.S. common and collective funds. This rollout allows eligible clients representing $250 billion in assets to choose from four voting guideline options, joining $342 billion in separately managed accounts that already have this optionality.

These actions aim to protect and enhance client assets, with NTAM now offering approximately 76% of client equity assets the ability to exercise proxy voting preferences.

Northern Trust (Nasdaq: NTRS) has been selected to provide outsourced trading via its Integrated Trading Solutions (ITS) for True Potential, a UK-based wealth management firm managing £31.7bn in assets. Northern Trust will handle trading for True Potential's internally managed funds, worth approximately £6.1bn. This expands on Northern Trust's existing role as True Potential's custodian, announced in January 2024, which includes fund accounting, transfer agency, custody, and depositary services for True Potential's UK-domiciled fund range.

True Potential chose Northern Trust for its extensive broker access, trading expertise, and transparent commission model. The partnership aims to lower costs for True Potential's clients while enhancing operational efficiency. Northern Trust's ITS combines global trading expertise with integrated middle and back-office services, helping asset managers reduce costs, manage compliance, and improve transparency.

Northern Trust (NTRS) organized a volunteer day for its North America summer interns on National Intern Day, partnering with United Way. Chicago-based interns assembled literacy kits for children associated with the New Moms non-profit program, which supports young mothers in Chicago and the Chicagoland area. Tempe interns participated by making cards for Cardz For Kidz. This event aligns with United Way's focus on community-based solutions for education, financial stability, and health across 1,800 communities in over 40 countries.

The Northern Trust Canada Universe reports that Canadian pension plans saw positive returns in Q2 2024, with a median return of 1.1% for the quarter and 3.5% year-to-date. This performance was driven by global equities gaining momentum, despite volatility early in the period. The Bank of Canada and European Central Bank shifted to a less restrictive monetary policy, while other major central banks remained cautious.

Global equities performed well, led by emerging markets. The S&P 500 Index returned 5.4% in CAD, while the MSCI Emerging Markets Index advanced 6.3% in CAD. Canadian equities saw a modest decline of -0.5%. The Canadian Fixed Income market generated a gain of 0.9% for the quarter, benefiting from the Bank of Canada's interest rate cut.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets, has appointed Xiangrong (Sharon) Jin, Ph.D as Head of Product Strategy. Jin will lead NTAM's global product strategy organization, focusing on innovation, scalable growth, and client-centric solutions across all asset classes, investment strategies, vehicles, and geographies.

Jin brings nearly 20 years of asset management experience, including 15 years at Goldman Sachs Asset Management in senior leadership roles. She holds a Ph.D. in finance from the University of Lausanne, a master's in international finance from Fudan University, and a bachelor's in quantitative finance from Nanjing University.

Northern Trust (NTRS) has been reappointed by Lancashire County Pension Fund to provide custody and performance measurement services for its £11.5 billion (US$14.6 billion) fund. This renewal extends their 13-year partnership, highlighting Northern Trust's commitment to the Local Government Pension Scheme (LGPS) sector.

Lancashire County Pension Fund serves approximately 189,000 employees and over 300 public sector employers in North West England. The reappointment underscores Northern Trust's expertise in serving LGPS clients and its role as a strategic partner to the LGPS community.

Northern Trust's Asset Owner business provides custody services to over 370 clients with US$3.01 trillion in assets under custody across EMEA, as of 31 May 2024. This reappointment reinforces Northern Trust's position as a leading asset servicing provider to UK pension funds.