Northern Trust (Nasdaq: NTRS) announced today it will issue a Request for Information (RFI) on Wednesday, April 9, 2014 to identify equity and fixed-income emerging broker-dealers to provide trade execution services for its multi-asset class investment management business, Northern Trust Asset Management.
"Northern Trust continues to focus on developing mutually beneficial relationships with emerging minority-, women-, and disabled-owned broker-dealers," said Connie Lindsey, executive vice president, head of corporate social responsibility and global diversity & inclusion at Northern Trust. "We believe this RFI reflects our deep commitment to the values of diversity and inclusion."
RFI responses are due to Northern Trust by 5 p.m. Central Time on Friday, May 30, 2014. Northern Trust's current roster of emerging broker-dealers will be invited to re-bid. Northern Trust will host a bidder's forum at its Chicago headquarters on Wednesday, April 23, 2014 from 3:30 to 5:00 p.m. Central Time to provide applicants with additional insight into the selection process. The process is expected to be complete sometime during the fourth quarter of 2014, with an announcement of selected firms to follow. Broker-dealers will be chosen based upon Northern Trust's robust standards for execution, technology, compliance and performance.
Northern Trust is dedicated to building strategic relationships with emerging broker-dealers. Northern Trust's diversity commitment also includes its Emerging Managers Program, which invests approximately $5 billion with more than 40 emerging and minority-owned investment management firms through manager-of-manager programs, as of December 31, 2013.
Asset Management at Northern Trust begins with listening and leads to answers beyond the expected for our clients. The multi-asset class investment management business is comprised of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., the investment advisor division of The Northern Trust Company and its subsidiaries which offer investment products and services to personal and institutional markets.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 18 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2013, Northern Trust had assets under custody of US$5.6 trillion, and assets under investment management of US$884.5 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures
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