Northern Trust Corp - NTRS STOCK NEWS

Northern Trust (Nasdaq: NTRS) has announced its new partnership with Equip Super, providing asset servicing solutions including global custody, fund administration, and portfolio analytics services. The transition took effect on April 2, 2024. Equip Super, headquartered in Melbourne, manages AU$34 billion in funds for over 140,000 members in Australia. Northern Trust's experience in the Australian superannuation sector was pivotal in Equip Super's decision, aiming to scale and maintain consistent service. With an established network across the Asia Pacific, Northern Trust offers a comprehensive range of financial services.

Northern Trust announced the promotion of Ryan McCauley to Senior Managing Director for the Foundation & Institutional Advisors (FIA) practice in the West Region. In his new role, McCauley will lead a team that works with foundations, endowments, and nonprofit institutions to develop innovative and customized solutions. McCauley has been with Northern Trust since 2017 and has previously served as Regional Director for FIA in Arizona, Colorado, and Texas. He brings extensive experience from his previous role at J.P. Morgan and holds various FINRA securities licenses. His new leadership is expected to accelerate the growth of Northern Trust’s institutional nonprofit business in the West Region.

The FIA group provides nonprofits with investment management solutions, strategic insights, and asset servicing. Northern Trust Wealth Management manages $420.6 billion in assets as of March 31, 2024.

Northern Trust (Nasdaq: NTRS) has been appointed as the custodian for the Firefighters’ Retirement System (FRS) of Louisiana, a $2.4 billion fund as of March 31, 2024. FRS chose Northern Trust for its innovative technology and tailored services. Michael Becker, CIO of FRS, highlighted Northern Trust's advanced technology and client-centric culture as key differentiators. Melanie Pickett, Head of Asset Owners at Northern Trust, emphasized the company's commitment to supporting the asset owner community and growth in Louisiana. Established in 1980, FRS provides retirement benefits for Louisiana firefighters.

Northern Trust Guernsey recently introduced e-bikes for their team, providing a sustainable commuting solution on the island. The initiative received positive feedback from staff, offering convenient and eco-friendly transportation options for local commutes and meetings.

Neurodiversity Awareness Month was recently observed at Northern Trust India offices. Events and initiatives were organized locally to raise awareness about neurodiversity, including an Immersive Experience event, workshops, and a panel discussion. The company also partnered with Blue Elephant Soapery, a venture run by a woman on the autism spectrum. Northern Trust aims to create a more inclusive workplace and support diverse suppliers.

Northern Trust (Nasdaq: NTRS) will provide outsourced trading solutions for New Silk Road Investment Pte , a Singapore-based investment manager. New Silk Road selected Northern Trust to address cross-border trading challenges in North America. The transition to T+1 settlement in the U.S., Mexico, and Canada poses challenges for Asia-based asset managers, prompting many to outsource trading functions. Northern Trust's Integrated Trading Solutions (ITS) platform offers comprehensive trading expertise in equities, fixed income, derivatives, and ETFs, aiming to lower costs, reduce risk, and enhance operational efficiency for asset owners and managers.

Cornerstone FTM, a financial technology investment fund, has chosen Northern Trust and Equity Data Science (EDS) for Research Management System and Portfolio Construction solutions. This collaboration signifies the growth of Northern Trust's Investment Data Science product suite, with IDS doubling its client base in the last 12 months. The partnership aims to enhance investment processes through automation and data-driven tools.

Northern Trust has been awarded Best Private Bank in the US for Digital Wealth Planning and Best Digital Innovator of the Year in the US by the Financial Times and PWM's Wealth Tech Awards. The recognition showcases Northern Trust's success in enhancing client experiences through technology innovations. With a focus on client and advisor needs, Northern Trust has implemented new patented technology, improved speed-to-market, and deployed high-performing teams to transform the wealth management experience.

In the first quarter of 2024, global equity markets saw significant gains as investors bet on a 'soft landing' and upcoming interest rate cuts. The Northern Trust Universe reported solid returns for institutional asset owners, with a 3.7% median return for plans over $100 million. The Northern Trust Foundation and Endowment (F&E) universe had a 3.9% return, while the Public Funds universe saw a 3.5% return and the Corporate (ERISA) universe had a 1.2% return. Large cap stocks outperformed small caps, with the US Equity Program universe returning 9.6%. However, the US Fixed Income program saw a -0.2% return due to rising bond yields. Foundations & Endowments had impressive one-, three-, and five-year returns at 12.3%, 5.0%, and 8.6%, with a median private equity allocation at 22.9%. Public Funds also showed strong returns, while the ERISA plan universe lagged behind with a 1.2% return and large US Fixed Income allocation.