For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
Our guiding principles not only survived but thrived during the Great Depression, two world wars and the 2008 financial crisis. We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
December 31, 2016, Northern Trust Corporation had:
Frederick H. Waddell, Chairman and Chief Executive Officer, commented, “Our fourth quarter revenue was up 7% versus one year ago, reflecting solid growth in net interest income, foreign exchange trading income, and trust, investment and other servicing fees. Expenses increased 6%, as we continued to invest in people, technology, and regulatory initiatives to support our growing business. Assets under custody and under management ended the quarter up 11% and 8%, respectively, compared to a year ago, primarily driven by higher markets and our continued success in winning new business.
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 11.9% in 2016 from 11.5% in 2015. We increased our quarterly common stock dividend to $0.38 per share and repurchased 6.1 million shares during the year, returning $755 million in capital to our common shareholders.”