Sky is high for Northern Trust 21 July 2014Chicago Reporter: Catherine Van de Stouwe
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Northern Trust has reported a 20 percent rise in assets under custody and a 15 percent rise in assets under management for Q2 2014 compared to Q2 2013.
The Corporate and Institutional Services (C&IS) and wealth management businesses also report a 9 percent rise in custody and fund administration services, investment management and securities lending.
In total, Northern Trust has reported a net income of $181.9 million.
Frederick H. Waddell, Chairman and Chief Executive Officer, said, “Our business continued to expand in the second quarter as trust, investment and other servicing fees, which represent 65% of revenue, increased 8% compared to last year and assets under custody and under management increased 20% and 15%, respectively.”
“The growth of our business, coupled with a focus on sustainable improvements, will allow us to improve our financial performance and the positioning of our business.”
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