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  • Northern Trust Announces Senior Leadership Changes to Trust & Advisory and Banking Practices
    January 23, 2019

    Northern Trust announced today changes that will build on its Wealth Management fiduciary, advisory and banking expertise while helping drive a business strategy designed for contemporary and future needs.
  • Northern Trust Announces Increased Quarterly Dividend on Common Stock
    January 22, 2019

    Northern Trust Corporation (Nasdaq: NTRS), holding company of The Northern Trust Company, has declared a quarterly cash dividend of $0.60 per share on its common stock ($1.66-2/3 par value), payable on April 1, 2019, to holders of record at 5:00 p.m., Chicago time, on March 8, 2019. The dividend represents a 9 percent increase from the prior quarterly rate of $0.55 per share, and results in an annualized dividend rate of $2.40, compared with the prior annualized rate of $2.20.
  • Northern Trust Names Marcy Klevorn, Bobby Mehta to Board
    January 22, 2019

    Northern Trust Corporation (Nasdaq: NTRS) announced today that two new members have been elected to its board of directors: Marcy Klevorn, executive vice president and president, Mobility, at Ford Motor Company; and Siddharth “Bobby” Mehta, former president and chief executive officer of TransUnion.
  • Northern Trust Recognized for Commitment to Advancement of Women in Workplace
    January 16, 2019

    Northern Trust has been recognized as one of a select group of companies for the 2019 Bloomberg Gender-Equality Index (GEI), which distinguishes companies committed to transparency in gender reporting and advancing women’s equality.
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Quarter Earnings

 
 

NORTHERN TRUST CORPORATION REPORTS RECORD FOURTH QUARTER NET INCOME OF $409.9 MILLION, EARNINGS PER COMMON SHARE OF $1.80, RETURN ON AVERAGE COMMON EQUITY OF 17.0%.

Michael O’Grady, Chairman and Chief Executive Officer, commented, “Northern Trust’s performance in the fourth quarter 2018 produced revenue growth of 6% and earnings per share growth of 19% compared to the prior year. For the full year 2018, the Company generated revenue growth of 11%, earnings per share growth of 35% and a return on average common equity of 16.2%. Our full year results also produced positive fee and total operating leverage, and solid improvements in profitability and returns.

We announced yesterday that we are increasing our quarterly dividend to $0.60 per share, representing an increase of 9% from the prior quarter and 43% compared to one year ago. During 2018, we returned a record $1.4 billion to common shareholders through dividends and the repurchase of 9.0 million shares. As we enter 2019, we remain focused on providing our clients with exceptional service, improving our productivity, and investing in future growth.”

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Media Kit

Executive Biographies

 
Frederick H. Waddell

Frederick H. Waddell

Chairman of the Board
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Frederick H. Waddell

Frederick H. Waddell

Chairman of the Board
 

Frederick H. Waddell is Chairman of the Board of Northern Trust, one of the world's leading asset management, asset servicing, fund administration, fiduciary and banking services firms. Serving successful individuals, families and institutions worldwide, the Chicago-based, 129-year-old financial institution had $8.1 trillion in assets under custody and $1.2 trillion in assets under management as of December 31, 2017.

Since joining Northern Trust in 1975, Mr. Waddell has held leadership positions in commercial banking, strategic planning and Wealth Management. In March 2003, he became head of the Corporate & Institutional Services business unit and, in February 2006, was named President and Chief Operating Officer of Northern Trust. Mr. Waddell served as Chief Executive Officer from January 2008 to December 2017, and was named Chairman in November 2009. ‪

‪Mr. Waddell received a bachelor’s degree in government from Dartmouth College and a master’s degree in business administration from the J.L. Kellogg School of Management of Northwestern University.

‪Mr. Waddell is a member of the Board of Directors of AbbVie, IBM, The Chicago Council on Global Affairs, Chicago Urban League, the United Way of Metropolitan Chicago, the International Monetary Conference, and the Financial Services Roundtable. He is Chairman of the Civic Committee of The Commercial Club and also serves as Vice Chairman of The Commercial Club. Mr. Waddell is on the Board of Trustees of the Art Institute of Chicago, Northwestern University, the Chicago Symphony Orchestra, and Northwestern Memorial Hospital. He also serves on the Global Advisory Board of the Kellogg School of Management and is an executive advisor to the Metropolitan Planning Council.

Michael G. O'Grady

Michael G. O'Grady

Chief Executive Officer and President
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Michael G. O'Grady

Michael G. O'Grady

Chief Executive Officer and President
 

Michael O’Grady is Chief Executive Officer and President and a Member of the Board of Directors of the Northern Trust, one of the world’s leading financial institutions focused on wealth management, asset management and asset servicing.

Prior to assuming his current role, Mike served as President of the Corporate & Institutional Services business unit at Northern Trust in 2015 and as Executive Vice President and Chief Financial Officer of Northern Trust from 2011 to 2015.

Mike joined Northern Trust in 2011 from Bank of America Merrill Lynch, where he served as a Managing Director in the firm's Investment Banking Group. He joined Merrill Lynch in 1992. Prior to Merrill Lynch, Mike worked for Price Waterhouse.

Mike earned a BBA from the University of Notre Dame and an MBA from Harvard Graduate School of Business.

He is a member of the boards of The Field Museum, the Museum of Contemporary Art Chicago, and Catholic Extension and the Finance Council of the Archdiocese of Chicago, and the Board of Advisors of Catholic Charities.

 
Peter B. Cherecwich

Peter B. Cherecwich

President of Corporate & Institutional Services
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Peter B. Cherecwich

Peter B. Cherecwich

President of Corporate & Institutional Services
 

Pete is an Executive Vice President and a member of Northern Trust’s Management Group in Chicago. Pete currently serves as the President of Corporate & Institutional Services business unit.

Northern Trust’s C&IS business unit is a leading provider of asset servicing, investment management, banking and related services to institutional clients worldwide including but not limited to corporate and public pension funds, sovereign wealth funds, supranational organizations, investment management firms, foundations and endowments, healthcare organizations, insurance companies, and other financial institutions.

An industry veteran, Pete brings over 25 years experience in working in a global organization and managing extremely large and complex client relationships. Pete originally joined Northern Trust in July 2007 as Head of Institutional Product and Strategy. Prior to joining Northern Trust, Pete served in various executive and lead operational roles at State Street Bank.

Steven L. Fradkin

Steven L. Fradkin

President, Wealth Management
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Steven L. Fradkin

Steven L. Fradkin

President, Wealth Management
 
Steven L. Fradkin is President of the Wealth Management business unit at Northern Trust and serves as a member of the Corporation’s Management Committee. Northern Trust’s Wealth Management business unit is a leading provider of asset management, fiduciary and banking services for affluent individuals and families operating from approximately 60 offices located in 18 U.S. states, Washington, D.C., and international locations across North America, Europe, the Middle East, and the Asia Pacific regions.

Mr. Fradkin has a diversified financial services career with Northern Trust having previously served as President of Corporate & Institutional Services, Executive Vice President & Chief Financial Officer, and head of the Corporation’s international business amongst other roles prior to his current appointment.

Mr. Fradkin joined Northern Trust in 1985 after graduating with a B.A. degree in economics from Washington University in St. Louis. He completed the Program for Management Development at Harvard Business School in 1994.

He is a non-executive director of American Stock Transfer & Trust Company, LLC, Armor Holdco Inc., Armor Holding II, LLC.

He also serves on the Board of Directors of the Chicago Horticultural Society (Chicago Botanic Garden) and is a member of the Suzanne's Friends for Life Chapter of the Leukemia Research Foundation, The Chicago Council on Global Affairs, the Washington University's Arts & Sciences National Council and Chicago Regional Cabinet and is the founder of CFO Select, a forum for the exchange of ideas and best practices amongst Chief Financial Officers.
 
Shundrawn A. Thomas

Shundrawn A. Thomas

President, Asset Management
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Shundrawn A. Thomas

Shundrawn A. Thomas

President, Asset Management
 

Shundrawn A. Thomas serves as the President of Asset Management. In his previous role as Executive Vice President, Head of Funds and Managed Accounts Group he was responsible for the development, management and distribution of the firm's mutual funds, institutional mutual funds and exchange-traded funds as well as related business activities. He also oversaw the Managed Accounts practice which provides investment advisory solutions to existing clients and financial intermediaries. His broad executive responsibilities involved developing long-term strategy, executing operating plans, managing client and vendor relationships and developing and retaining talented professionals.

Previously, Shundrawn served as President and Chief Executive of Northern Trust Securities, Inc. a wholly owned subsidiary of Northern Trust Corporation. In addition to his general management responsibilities, he was responsible for overseeing financial management and working with regulators including FINRA and the Securities and Exchange Commission. He also served as Head of Corporate Strategy for Northern Trust Corporation. As a direct report to the Chief Executive Officer, he supported executive management with key strategic planning initiatives. Prior to joining Northern Trust, Shundrawn served as a vice president for Goldman Sachs and held positions in sales, trading and research with Morgan Stanley.

Shundrawn received a B.S. degree in Accounting from Florida A&M University and an M.B.A. degree from the University of Chicago Booth School of Business. He has also completed executive education programs in corporate strategy at Chicago Booth School of Business and corporate governance at University of Notre Dame Mendoza School of Business. Shundrawn currently holds the FINRA series 7, 63 and 24 securities licenses.

Shundrawn currently serves as a trustee for Wheaton College and as a board director of the Florida A & M University Foundation. Shundrawn is a member of the Economic Club of Chicago. His civic involvement has afforded him the opportunity to speak and lecture nationally on topics including leadership, strategy, investment management and professional development.

 

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