Northern Trust (Nasdaq: NTRS) announced today it has issued a Request for Information (RFI) 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.
“For more than a decade, our emerging brokers initiative has helped Northern Trust Asset Management build mutually beneficial relationships with firms owned by women, minorities and people with disabilities,” said Connie Lindsey, executive vice president and head of Corporate Social Responsibility and Global Diversity & Inclusion at Northern Trust. “Today’s RFI renews our commitment to a diverse trading and execution network for our global investment platform.”
RFI responses are due to Northern Trust by 5 p.m. Central Time on March 31, 2017. Northern Trust will host a public forum at its Chicago headquarters on February 22, 2017 to provide applicants with additional insight into the selection process. The process is expected to be completed in the third quarter of 2017. In addition to ownership structure, broker-dealers will be evaluated based on Northern Trust’s rigorous requirements for execution, technology, compliance and performance.
Northern Trust is dedicated to building strategic relationships with minority-, women-, and disabled-owned broker-dealers, including securities underwriting and participation in debt issuance. Northern Trust’s diversity commitment also includes its Emerging Managers Program, which invests approximately $2.9 billion with more than 30 emerging and minority-owned investment management firms through manager-of-manager programs, as of September 30, 2016.
About Northern Trust Asset Management
Northern Trust is a global asset management firm serving institutional and individual investors in 29 countries, with $942 billion in assets under management as of December 31, 2016. Northern Trust Asset Management offers proprietary and multi-manager solutions across all markets and asset classes, from passive to actively managed strategies, delivered in multiple vehicles. For more information, please visit our website or follow us on Twitter @NTInvest.
Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, 50 South Capital Advisors, LLC, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc. and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2016, Northern Trust had assets under custody of US$6.7 trillion, and assets under management of US$942 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit 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 https://www.northerntrust.com/disclosures.