About the Company
Northern Trust Corporation was founded in 1889 in Chicago, Illinois. It is a financial service company, responsible for catering to corporations, institutional investors, and ultra-high net worth individuals. The company is one of the largest banking institutions in America and also the oldest bank in continuous operations. The company has offices in 20 states in America and has offices across 23 countries. In 1889, the founder of the company, Byron Laflin Smith, provided 40% of the original bank’s capitalization. The original shareholders of the company included businessmen and civic leaders.
The company provides custodian bank, investment management, personal trust, philanthropic services, financial consulting, estate administration and guardianship. Northern Trust Corporation also provides qualified retirement plans, private and business banking. Its wealth management services include business owners, executives, professionals, retirees, and established privately held businesses.
The company headquarters is located in the financial district of Chicago and was designed by Frost and Granger. This structure was a five store building with additional floors. In 1986, the company acquired the First Lake Forest Corporation for $61 million in cash. In October 2017, the company purchased UBS Asset management’s fund administration servicing units in Luxembourg and Switzerland. Effective since January 2018, Michael O’Grady became the Chief Operating Officer of the company. He went on to become the chairman in January 2019. The company also took part in war bonds and even provided loans for manufacturing war equipment under special government programs. The war created more opportunities for the bank allowing all sectors of its business to expand.
The company owns over 78 offices in countries, including America, Canada, the United Kingdom, Switzerland, Sweden, Netherlands, Australia, China, India, Guernsey, Hong Kong, Ireland, Japan, Luxembourg, Malaysia, Saudi Arabia, Singapore, and Korea. Forbes ranked this company at 36 in the list of America’s Best Banks in 2020. It was also ranked at 12 in the Forbes list of World’s Best Employers 2017. The company also ranked at 150 in the Best Employer For Women 2018 list. Northern Trust Corp shares are traded on the NASDAQ stock exchange under the ticker symbol “NTRS.”;
Organisation | Northern Trust Corporation |
Industry | Asset Management |
HeadQuarters | Chicago, IL |