Northern Trust

Bankers come to grips with coronavirus impact


With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines.


Northern Trust gets boost from investment arms of wealthy families


Fourth-quarter fees earned from managing the assets of family offices rose 12% and were a powerful counterbalance to tighter margins.


Higher deposit costs hold profits in check at Northern Trust


Second-quarter earnings at the Chicago custody bank were flat as increased interest costs offset better yields and fee income held steady.


Facebook partners not sure about Libra; Northern Trust's exposure


Some signed on because the deal didn't require using or promoting Libra; Chicago bank may get stuck with $190 million of losses from U.K. mutual fund.


The Wall Street banks bullish on blockchain


Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects.


Institutional clients' deposit shuffle burns custody banks


Money managers, which are critical to the success of State Street and Northern Trust, are aggressively moving cash into higher-rate products.


Banks explore a safe deposit box for cryptocurrencies


They are disinclined to talk about it much yet, but the big three trust banks as well as JPMorgan and Goldman are said to be mulling custody services that would help shield wealthy bitcoin investors from theft. Here are the selling points and the risks.


Acquisition of UBS unit, foreign exchange propel Northern Trust


The big custody bank's fees surged on new business gained from its deal for UBS business units in Europe.


Northern Trust adds to assets under management and custody, raising 1Q profit


The Chicago custody bank also benefited from a recent acquisition of a UBS business in Europe and the lower federal income tax rate.


Northern Trust adds auditing to distributed ledger


The bank’s distributed ledger for private equity deals can now provide nodes to auditors, so they can easily access documents and data for their annual reviews.