Sharon Leung's questions to Northern Trust Corp (NTRS) leadership • Q3 2024
Question
Sharon Leung, on behalf of Steven Chubak, inquired about the current floating-rate mix of the balance sheet and the future trajectory of expense growth related to resiliency and modernization investments.
Answer
Jason Tyler, then-CFO, stated that the floating-rate mix is now approximately 50%. He also explained that elevated modernization and resiliency spending will continue for another 2-3 quarters before declining in late 2025, with no current plans to redeploy those specific funds elsewhere.