For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region, and 18,100 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
Our guiding principles not only survived but thrived during the Great Depression, two world wars and the 2008 financial crisis. We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
As of March 31, 2018, Northern Trust Corporation had:
Michael O’Grady, President and Chief Executive Officer, commented, “Northern Trust’s first quarter performance was strong, generating a return on average common equity of 16.0% and earnings per share growth of 45%. This quarter’s performance reflected organic growth in our businesses, as well as the impact of favorable macroeconomic conditions. Revenue growth of 15% was driven by year-over-year growth in trust, investment and other servicing fees of 16%. Expenses during the quarter reflected support for the growth in our businesses. Our results produced positive fee operating leverage and operating leverage of 4.7 points and 3.6 points, respectively, versus the prior year. We remain focused on executing our strategy of providing excellent client service, improving our productivity and investing in future growth.”