Northern Trust Corporation (NTRS) is a leading provider of wealth management, asset servicing, asset management, and banking solutions, operating globally through its principal subsidiary, The Northern Trust Company, and various other subsidiaries . The company is organized into two main client-focused reporting segments: Asset Servicing and Wealth Management. Northern Trust offers a range of services including custody, fund administration, investment operations outsourcing, trust, investment management, and philanthropic services, primarily targeting institutional investors and high-net-worth individuals .
- Asset Servicing - Provides a wide range of services including custody, fund administration, and investment operations outsourcing, primarily to institutional investors such as corporate and public retirement funds, foundations, and sovereign wealth funds.
- Wealth Management - Targets high-net-worth individuals and families, offering services such as trust, investment management, custody, and philanthropic services, including customized services through the Global Family Office for ultra-high-net-worth individuals and family offices.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michael G. O’Grady ExecutiveBoard | Chairman, CEO, and President | None | Joined NTRS in 2011; became CEO in 2018, Chairman in 2019. Previously CFO and President of Corporate & Institutional Services. | View Report → |
Alexandria Taylor Executive | Executive Vice President and CHRO | None | Joined NTRS in October 2022. Previously at Bank of America, where she held senior HR roles. | |
Daniel E. Gamba Executive | President of Asset Management | None | Joined NTRS in April 2023. Previously at BlackRock, where he held senior roles including Co-Head of Fundamental Equities. | |
Jane B. Karpinski Executive | Executive Vice President, Global Head of Regulatory Affairs | None | Joined NTRS in 2006; became Global Head of Regulatory Affairs in December 2023. Previously Chief Audit Executive and Controller. | |
Jason J. Tyler Executive | Executive Vice President and CFO | None | Joined NTRS in 2011; became CFO in 2020. Previously CFO of Wealth Management and Global Head of Asset Management’s Institutional Group. | |
John P. Landers Executive | Senior Vice President and Controller | None | Joined NTRS in 2003; became Controller in December 2023. Previously Chief Productivity Officer and CFO of Asset Servicing. | |
Mark C. Gossett Executive | Executive Vice President and CRO | None | Joined NTRS in 1983; became CRO in 2020. Previously Chief Credit Officer and Co-Head of Global Foreign Exchange. | |
Peter B. Cherecwich Executive | Chief Operating Officer | None | Joined NTRS in 2007; became COO in October 2024. Previously President of Asset Servicing and Global Fund Services. | |
Steven L. Fradkin Executive | Vice Chairman | None | Joined NTRS in 1985; became Vice Chairman in October 2024. Previously President of Wealth Management and Corporate & Institutional Services. | |
Susan C. Levy Executive | Executive Vice President and General Counsel | None | Joined NTRS in 2014; oversees legal and regulatory affairs. Previously Corporate Secretary (2018–2021). | |
Teresa A. Parker Executive | President of Asset Servicing | None | Joined NTRS in 1982; became President of Asset Servicing in October 2024. Previously President of EMEA and COO of Corporate & Institutional Services. | |
Thomas A. South Executive | Executive Vice President and CIO | None | Joined NTRS in 1999; became CIO in 2018. Previously Chief Business Architect and COO of Operations & Technology. | |
Charles A. Tribbett III Board | Independent Director | Vice Chairman of Russell Reynolds Associates | Independent director since 2005. Extensive experience in global leadership consulting. | |
David H. B. Smith, Jr. Board | Independent Director | Director at Illinois Tool Works Inc. | Independent director since 2010. Extensive regulatory and leadership experience, including roles at the SEC and Mutual Fund Directors Forum. | |
Dean M. Harrison Board | Independent Director | None | Independent director since 2015. Former Executive Chairman and CEO of Northwestern Memorial HealthCare. | |
Donald Thompson Board | Independent Director | CEO of Cleveland Avenue, LLC; Director at Royal Caribbean Cruises Ltd. | Independent director since 2015. Former CEO of McDonald’s Corporation. | |
Jay L. Henderson Board | Lead Director | Director at Illinois Tool Works Inc. and The J. M. Smucker Company | Independent director since 2016. Former senior executive at PricewaterhouseCoopers LLP. | |
Linda Walker Bynoe Board | Independent Director | President & CEO of Telemat Limited LLC; Director at Equity Residential and PGIM Retail Mutual Funds | Independent director since 2006. Extensive experience in consulting, corporate governance, and public accounting. | |
Marcy S. Klevorn Board | Independent Director | Director at Cerence, Inc. and Humana, Inc. | Independent director since 2019. Former Chief Transformation Officer and CIO at Ford Motor Company. | |
Martin P. Slark Board | Independent Director | Director at Hub Group, Inc. | Independent director since 2011. Former CEO of Molex LLC. | |
Siddharth N. Mehta Board | Independent Director | Director at The Allstate Corporation and Jones Lang LaSalle Incorporated | Independent director since 2019. Former CEO of TransUnion and HSBC North America Holdings. | |
Susan Crown Board | Independent Director | Chairman & CEO of Owl Creek Partners LLC; Chairman of Susan Crown Exchange Inc.; Director at Illinois Tool Works Inc. | Independent director since 1997. Extensive experience in private equity, social investment, and corporate governance. |
- Given that expense growth is expected to be over 6% in 2024, exceeding your previous target of sub-5%, how do you plan to control expenses in 2025 to meet your commitment of sub-5% expense growth, especially with the recent management changes?
- With significant management changes across key positions, including CFO, COO, Head of Wealth, Head of Asset Servicing, and Head of Family Office all changing at the same time, how will the new leadership team drive better organic growth, and what specific strategies will they implement differently from before?
- Your stock price has lost its premium versus trust bank peers and trades below some competitors like Morgan Stanley; to what extent do you attribute this to business mix, environment, or execution, and what are your plans to address these challenges to improve shareholder value?
- How should investors measure the success of the One Northern Trust strategy, and can you provide specific metrics or KPIs that we can monitor to assess the effectiveness of this initiative compared to your peers using similar programs?
- Given the elevated level of capital returns through share buybacks, with about one-third of net income going to dividends and a CET1 ratio at the upper end of 12.5%, is this level of capital return sustainable in the longer term, and how do you plan to balance capital returns with maintaining your capital ratios?
Research analysts who have asked questions during NORTHERN TRUST earnings calls.
Betsy Graseck
Morgan Stanley
4 questions for NTRS
Ebrahim Poonawala
Bank of America Securities
4 questions for NTRS
Alexander Blostein
Goldman Sachs
3 questions for NTRS
Brian Bedell
Deutsche Bank
3 questions for NTRS
David Smith
Truist Securities
3 questions for NTRS
Gerard Cassidy
RBC Capital Markets
3 questions for NTRS
Glenn Schorr
Evercore ISI
3 questions for NTRS
James Mitchell
Seaport Global Holdings LLC
3 questions for NTRS
Vivek Juneja
JPMorgan Chase & Co.
3 questions for NTRS
Brennan Hawken
UBS Group AG
2 questions for NTRS
Michael Mayo
Wells Fargo
2 questions for NTRS
Steven Chubak
Wolfe Research
2 questions for NTRS
Alex Blostein
Goldman Sachs
1 question for NTRS
Brennan Hawken
UBS
1 question for NTRS
Glenn Schorr
The Goldman Sachs Group, Inc.
1 question for NTRS
Kenneth Usdin
Jefferies
1 question for NTRS
Ken Usdin
Autonomous Research
1 question for NTRS
Mike Mayo
Wells Fargo
1 question for NTRS
Sharon Leung
Wolfe Research
1 question for NTRS
Thomas Leddy
RBC Capital Markets
1 question for NTRS
Recent press releases and 8-K filings for NTRS.
- Institutional ownership has surpassed 10%, with new stakes from Citadel, BlackRock, Vanguard, Jane Street, Northern Trust, Man Group, and State Street.
- Rezolve trades at only ~17x ARR, versus 36x–100x for AI peers like Anthropic and Sierra AI, highlighting a valuation gap.
- The company expects to exceed $100 million ARR in 2025 and currently has a market capitalization of ~$1.7 billion.
- Inclusion in the Russell 2000 and 3000 indices reflects accelerating investor confidence and customer adoption.
- Following its inclusion in the Russell 2000 Index, Mercurity Fintech saw major asset managers—BlackRock, State Street, Vanguard, and Northern Trust—report new or increased holdings in early to mid-August 2025.
- Notable pension funds, including the California State Teachers’ Retirement System and the New York State Common Retirement Fund, have slightly increased their MFH positions.
- These holdings are predominantly index-driven and passive, but MFH views the broader institutional base as recognition of its fintech and digital asset platform development.
- CEO Shi Qiu highlighted that expanded institutional participation boosts liquidity and raises the company’s profile within the investment community.
- Northern Trust authorized a new $2.5 billion stock repurchase program, replacing the prior authorization from October 2021 with no expiration date.
- Under the prior plan, 572,709 shares were repurchased between July 1, 2025 and the announcement, with roughly 4.8 million shares remaining.
- The buyback program allows share purchases via open-market transactions, block trades, privately negotiated transactions, and Rule 10b5-1 trading plans.
- As of June 30, 2025, Northern Trust managed US$18.1 trillion in assets under custody/administration and US$1.7 trillion in assets under management.
- Analysts rate the stock a consensus ‘Hold’ with an average price target of $120.83 (current price near $129.78), while some rate it ‘Outperform’.
- Asset Servicing Strategy: Leadership emphasized a shift toward profitable growth through enhanced client service and integrated solutions across asset servicing and wealth management.
- Technology and Productivity Investments: The company is modernizing its tech stack with a focus on AI, digital assets, and operational efficiency to adapt to evolving market needs.
- Financial and Capital Management Outlook: Elevated deposit levels, low to mid single-digit net interest income guidance, and a dividend range of 30% to 50% reflect a robust capital management framework.
- Growth in Alternative Assets and International Reach: Expansion in private markets and alternative asset services, alongside a strong international pipeline, is positioned to drive margin improvements and long-term resilience.
- Q1 2025 Financial Performance: Reported a net income of $392 million, diluted EPS of $1.90, and revenue of $1,945.6 million (FTE basis) .
- Governance & Annual Meeting: Approved by-law amendments on April 22, 2025, including formation of a Technology and Operations Committee, dissolution of the Capital Governance Committee, renaming the Business Risk Committee to the Risk Committee; at the Annual Meeting, 13 director nominees were elected, the advisory vote approved 2024 executive compensation, and KPMG LLP was ratified as independent auditor .
- Capital Actions: Returned a total of $435 million to shareholders through $287.2 million in buybacks, $148.2 million in common stock dividends, and $16.2 million in preferred dividends .
- Operational Strength: Achieved mid-single digit growth in trust fees, increased net interest income, with EPS up 13% and a 13% return on common equity .
- Strategic Initiatives: Launched a dedicated Family Office Solutions segment and boosted investments in asset management and asset servicing .
- FY 2024 Highlights & Outlook: Noted a 22% increase in total revenue and 83% growth in net income, alongside strategic priorities in risk management, productivity, and growth; filed an 8-K on April 22, 2025 detailing forward-looking business outlook .