On August 12, 2014, Northern Trust marked 125 years since it first opened its doors for business in 1889. The Chicago-based global bank, established by Byron Laflin Smith, has more than 20 international locations. Founded the same year the Eiffel Tower was completed and the Dakotas, Montana and Washington became states, Northern Trust has weathered the Great Depression, two world wars and the 2008 financial crisis. The bank not only survived, but thrived during these times of significant market and economic stress.
Global Leadership, Enduring Principles
Northern Trust (Nasdaq:NTRS) is a global leader in delivering innovative investment management, asset and fund administration, fiduciary and banking solutions to corporations, institutions and affluent individuals. For 125 years, we have evolved with the changing needs of our clients and our world.
As of September 30, 2014, Northern Trust Corporation had:
Frederick H. Waddell, Chairman and Chief Executive Officer, commented, “Our financial performance in the third quarter of 2014 reflects continued growth in our business serving personal and institutional clients. Trust, investment and other servicing fees, which represent two-thirds of our revenue, increased 11% compared to last year. New business and higher equity markets contributed to strong growth in assets under custody and under management, which increased 13% and 9%, respectively. Our pre-tax profit margin improved to 28.2% in the quarter and our return on equity was 10.1%. This performance reflects ongoing efforts focused on growing our client franchise while achieving sustainable improvements in productivity..”