Northern Trust sees 15 percent fee jump
23 October 2014 Chicago
Image: Shutterstock
Northern Trust saw its custody and fund administration fees increase 15 percent in Q3 2014 to $275 million.
The bank attributed the corporate and institutional services business boost to new business and the favourable impacts of equity markets and movements in foreign exchange rates.
The Q3 2014 results also revealed that securities lending revenue decreased 3 percent, from $22.7 million in Q3 2013 to $22 million, primarily reflecting lower spreads offset by higher volumes in the current quarter.
The bank attributed the corporate and institutional services business boost to new business and the favourable impacts of equity markets and movements in foreign exchange rates.
The Q3 2014 results also revealed that securities lending revenue decreased 3 percent, from $22.7 million in Q3 2013 to $22 million, primarily reflecting lower spreads offset by higher volumes in the current quarter.
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