Northern Trust Corporation, founded in 1889, is a financial holding company headquartered in Chicago that is a leading provider of asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions and affluent individuals.
Northern Trust conducts business through various global subsidiaries, including The Northern Trust Company, an Illinois banking corporation. Northern Trust has an extensive network of offices in 18 U.S. states: Illinois, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New York, Ohio, Texas, Washington and Wisconsin. Other offfices around the world are located in Abu Dhabi, Amsterdam, Bangalore, Beijing, Dublin, Guernsey, Hong Kong, Jersey, Limerick, London, Luxembourg, Melbourne, Singapore, Stockholm, Tokyo and Toronto.
As of March 31, 2014, Northern Trust Corporation has approximately US$104 billion in banking assets, US$915.4 billion in assets under management and US$5.8 trillion in assets under custody.
Northern Trust Corporation has three main business areas:
These serve two principal client types: institutional and personal.
With US$5.8 trillion in assets under custody (as of March 31, 2014), Northern Trust is a leading global provider of asset servicing, fund administration, and related services. Our institutional clients are located in more than 40 countries and we support their asset servicing needs in approximately 100 markets worldwide. Clients include asset managers, sovereign wealth funds, central banks, insurance companies, corporations, public retirement funds, foundations, endowments and financial institutions, whose complex needs drive our growth. Northern Trust has earned a reputation for high-quality client service and industry-leading technology, resulting in long-term client partnerships and frequent industry recognition as one of the world’s foremost institutional asset servicers.
Northern Trust Asset Management is one of the world’s largest investment managers with US$915.4 billion in assets under management (as of March 31, 2014). Northern Trust Asset Management is a multi-capability asset manager serving affluent individuals and families and institutional clients in more than 40 countries around the world. Northern Trust Asset Management’s market-leading range of global index, active fixed income and equity, and manager of managers capabilities enables customized solutions across the risk spectrum. These solutions are delivered through separately managed accounts, Northern Funds for personal investors, Northern Institutional Funds for institutional investors, bank common and collective funds, non-U.S. collective funds and unregistered investment funds. In addition to these proprietary solutions, the manager of managers subsidiary, The Northern Trust Company of Connecticut, has investments with more than 200 external managers worldwide. Investment program solutions range from retail mutual funds and alternative asset classes to emerging manager programs and total investment program management for institutions and affluent individuals and families.
Wealth Management at Northern Trust offers financial planning, investment management, trust and estate services, philanthropic advisory and private and business banking. Wealth Management is focused on high-net-worth individuals and families, business owners, executives, professionals, retirees and established privately held businesses. Wealth Management operates through an extensive network of offices in 18 states - Illinois, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New York, Ohio, Texas, Washington and Wisconsin. In distinctive, full-service facilities, experienced Northern Trust professionals work in a client service culture that is unparalleled in the industry. The Wealth Management Group provides sophisticated financial solutions to families and family offices with complex global asset structures, generally more than $200 million in investable assets. Clients of this group include more than 20% of the Forbes list of the 400 richest Americans.
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Operations and Technology supports all of Northern Trust’s global business activities, including the processing and product management activities of asset servicing, asset management and wealth management. These activities are conducted principally in the operations and technology centers in Chicago, London and Bangalore and fund administration centers in Ireland.
Frederick (Rick) Waddell joined Northern Trust in 1975. He was appointed Chief Executive Officer on January 1, 2008 and became Chairman on November 11, 2009. Prior to that, he served from February 2006 as President and Chief Operating Officer, and was President of the Corporate and Institutional Services business unit from 2003 until 2006. From 1994 until 2003, he led Northern Trust’s Wealth Management Group. From 1991 until 1994, he was Executive Vice President for Northern Trust Bank of California, with responsibility for the Los Angeles and Westwood offices. During the 1980s, he was responsible for Corporate Strategic Planning and Corporate Marketing, and held various positions of responsibility and management in the Corporation’s Commercial Banking division.