Northern Trust Bank was founded in 1889 by reputable banker Byron Laflin Smith with the goal of serving the city’s affluent individuals and organizations. Northern Trust went on to create a series of ‘firsts’ for their industry, including an employee life insurance plan in 1912, a pension plan in 1913 and electronic check processing. By 1969 North Trust had expanded internationally with a London office, making them the first Illinois-chartered financial institution to open a branch outside the United States. Today, Northern Trust Corporation operates as the largest administrator of offshore private equity funds in Europe, and is one of the world’s leading providers of institutional index management services. Internationally, Northern Trust is one of the leaders when it comes to delivering to corporations, institutions and affluent individuals services such as investment management, asset and fund administration, fiduciary and banking solutions. To date, Northern Trust has $107 billion in banking assets, $6.1 trillion in assets under custody and $960 billion in assets under management.
Northern Trust has three areas of specialty for its wealthy clients:
Northern Trust's Asset Management helps clients to custom-design a sophisticated investment strategy to achieve their goals by:
Northern Trust's two vehicles for goal achievement are:
For clients seeking a single hosted solution that provides straight-through-processing, cost-effective applications, added efficiency and productivity in a fully menu-driven environment, Northern Trust offers Asset Servicing through Trust Portal. These services include:
Northern Trust also offers a variety of wealth management services to help client's address every aspect of their wealth management needs.
Northern Trust prides itself on centering its services around each client's individual needs. They provide clients with a customizable and expansive package of information reporting, image delivery and transaction initiation services. Northern Trust takes the time to fully understand their clients' business challenges and goals, helping them to develop integrated strategies and singular solutions, including:
Another highlight is Northern Trust's 24/7 online platform -which offers individual and business clients a way to access their accounts 24 hours a day, 7 days a week.