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 December 31, 2014, Northern Trust Corporation had:
Frederick H. Waddell, Chairman and Chief Executive Officer, commented, “Fourth quarter and full year results reflect a continued focus on serving the complex and evolving needs of our clients, while enhancing profitability and returns for our shareholders. Our return on equity improved to 10.0% in 2014 from 9.5% in 2013. We increased our quarterly common stock dividend to $0.33 per share and repurchased 7.5 million shares during the year, returning $792 million in capital to our common shareholders compared to $609 million in 2013. New business and higher equity markets drove client assets under custody and under management up 7% and 6%, respectively, in 2014. Trust, investment and other servicing fees – which represent 65% of total revenue – increased a strong 9%. Expense growth of 5% reflects continued growth in our business, ongoing investment to support technology initiatives, and actions taken during 2014 to realign our organizational structure.”