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 June 30, 2014, Northern Trust Corporation had:
Frederick H. Waddell, Chairman and Chief Executive Officer, said, “Our business continued to expand in the second quarter as trust, investment and other servicing fees, which represent 65% of revenue, increased 8% compared to last year and assets under custody and under management increased 20% and 15%, respectively.
We also continue to focus on sustainable improvements to our financial performance and on investing in attractive growth opportunities. To these ends, we have taken a number of actions to realign our leadership team and organizational structure, and to extend our operating model.”