Mixed bag of Q4 results for Northern Trust 22 January 2016Chicago Reporter: Stephanie Palmer
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Northern Trust has seen an increase in assets under custody in its Q4 2015 results, however assets under management, and custody and administration fees revealed more turbulent figures.
At the end of Q4 2015, Northern Trust’s assets under custody totalled $6.07 trillion. This represents an increase of 2 percent over both the Q3 2015 and Q4 2014 figures, which each stood at around $5.97 trillion.
Total assets under management totalled $875.3 billion in Q4 2015, a slight dip of 1 percent compared to Q3 2015, which reached $886.8 billion. However it is a 6 percent decrease compared to Q4 2014, when the bank reported assets under management of 935.1 billion.
In its corporate an institutional services segment, trust investment and other servicing fees increased by $18.4 million, or 5 percent, over the same period last year.
In Q4 2014 fees totalled $409.5 million, while Q4 2015 saw a total of $427.9 million.
However the Q4 2015 figure represents a slight dip compared to Q3 2015, which saw fees of $429.7 million.
Similarly, custody and fund administration fees increased over Q4 2014, but saw a slight decrease compared to Q3 2015.
In Q4 2015 custody and administration fees reached $286.2 million.
This is 2 percent more than Q4 2014, which reached $281.6 million. Northern Trust attributed this increase to new business, but said that it was offset by the unfavourable impact of changes in foreign exchange rates.
The Q4 2015 figure for custody and fund administration fees was about 3 percent less than that registered in Q3 2015, which came in at $293.9 million.
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