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    Glenn Schorr

    Senior Managing Director and Senior Research Analyst at The Goldman Sachs Group, Inc.

    Glenn Schorr is a Senior Managing Director and Senior Research Analyst at Evercore ISI, specializing in coverage of brokers, universal banks, asset managers, and trust banks. He has analyzed major companies including JPMorgan Chase, Morgan Stanley, State Street, Northern Trust, and KKR, and is consistently ranked in the top three of Institutional Investor’s All-America Research Team for his sector, most recently achieving No. 2 and runner-up in 2023. Schorr began his financial sector coverage in 2000, with previous roles at Nomura Securities, UBS, Deutsche Bank, and M.D. Sass Investors, and now leads financials research at Evercore ISI. He holds a CFA designation and earned his B.S. in finance from Binghamton University.

    Glenn Schorr's questions to NORTHERN TRUST (NTRS) leadership

    Glenn Schorr's questions to NORTHERN TRUST (NTRS) leadership • Q4 2024

    Question

    Glenn Schorr inquired about the durability of Northern Trust's Net Interest Income (NII), questioning the sustainability of the 7% growth in noninterest-bearing deposits and seeking clarity on recent deposit pricing adjustments. He also asked for details on the company's alternative investments strategy, including its current state, build-out plans, and areas of client demand.

    Answer

    Chief Financial Officer David Fox explained that while some seasonality may exist in the growth of noninterest-bearing deposits, it was not unusual. He clarified that pricing adjustments are part of a comprehensive liquidity management strategy across multiple currencies. Chairman and CEO Michael O'Grady detailed the alternatives strategy, which spans investor solutions via 50 South Capital and a third-party manager platform, as well as administrative and banking services for private capital firms, noting that the platform is built but has room for expansion.

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