Northern Trust Corporation, also known as Northern Trust, is one of the leading international financial services companies with headquarters in Chicago, Illinois. The corporation has an extensive network of over 93 branch locations in 18 US states and 12 international offices located in North America, Europe, and Asia-Pacific region. Forbes Magazine had ranked Northern Trust Corporation as the world’s most admired company in the category of “Superregional Banks,” in March 2010. As on December 31, 2013, Northern Trust had around $97 billion in banking assets, $644.2 billion in assets under management, and $4.2 trillion in assets under custody.
The principal subsidiary of Northern Trust Corporation is The Northern Trust Company. In addition, Northern Trust owns two investment management subsidiaries called, Northern Trust Investments, N.A. and Northern Trust Global Advisors, Inc. The corporation provides a range of services that includes investment management, wealth management, asset servicing, personal trust, fiduciary, private and business banking services.
In 1889, Northern Trust was founded by Byron Laflin Smith in an office in the Rookery Building in Chicago’s Loop. The primary objective of establishing the corporation was to provide trust and banking services to the prosperuous citizens of the city. Smith provided around 40% of the bank’s initial capitalization of $1 million, and included popular businessmen and civic leaders such as Martin A. Ryerson, Marshall Field, and Philip D. Armour as among the total 27 original shareholders.
Northern Trust Global Investments (NTGI) is a subsidiary of Northern Trust Corporation, and it offers a gamut of investment management and related services and products to US as well as non-US clients. NTGI provides active and passive equity, fixed income portfolio management, as well as alternative asset classes and multimanger services and products. The business of Northern Trust Global Investments operates internationally through alliances, subsidiaries, and distribution arrangements.
|Bank Name||The Northern Trust Company|
|Year of Establishment||January 1, 1889|
|FDIC Insured Since||January 1, 1934.|
|FDIC Certificate No||913|
|Number of Branches||76 domestic + 2 foreign offices|
|Number of ATMs||60|
|Number of Employees||14,500|
|Number of States Served||18 States|
|Services Offered (Available Accounts)||Wealth management, asset management, asset servicing, commercial banking services, personal trust, investment management, financial consulting, private and business banking.|
|Mobile and Online Banking||Passport login, Online brokerage, Correspondent Services, Foreign exchanges, Global Custody, Securities lending.|
|Assets (June 30, 2014)||105,409,177|
|Deposits (June 30, 2014)||89,616,122|
|Equity Capital (June 30, 2014)||7,256,873|
|Net Income (June 30, 2014)||180,302|
|Primary Federal Regulator||Federal Reserve Board (FRB)|
|Address||50 South Lasalle Street Chicago, Illinois 60675, County of Cook|
(Courtesy: FDIC as on June 30, 2014)