Northern Trust Company

Northern Trust Corporation

Type	Public
Traded as	NASDAQ: NTRS S&P 500 Component
Industry	Financial services
Founded	1889
Founder	Byron Laflin Smith
Headquarters	Chicago, Illinois, U.S.
Key people	Frederick H. Waddell (CEO) Michael G. O'Grady (President)
Products	Private banking Investment management Wealth management
Revenue	US$ 5.144 Billion (2016)
Net income	US$ 1,032.5 Million (2016)
AUM	US$ 946 billion (September 2016)
Total assets	US$ 123.9 billion (2016)
Total equity	US$ 9.770 billion (2016)
Number of employees	17,100 (2016)
Website	www.northerntrust.com

Frederick H. Waddell (CEO)

The Northern Trust Corporation is an American international financial services company headquartered in Chicago, Illinois. It provides investment management, asset and fund administration, and fiduciary and banking services through a network of 85 offices in 18 US states and 20 international offices in North America, Europe, and the Asia-Pacific. As of March 31 2017, Northern Trust Corporation had $121 billion in banking assets, $7.1 trillion in assets under custody and $1.0 trillion in assets under management. They are regulated by the Federal Reserve. In March 2010, Forbes magazine ranked Northern Trust as the world's most admired company in the "Superregional Banks" category.

Other than M&T, Northern Trust was the only bank in the S&P 500 not to lower its dividend during the financial crisis of 2007–2008.

Northern Trust was founded in 1889 by Byron Laflin Smith in a one-room office in the Rookery Building in Chicago's Loop, with a focus on providing trust and banking services for the city's prosperous citizens. Smith provided 40% of the bank's original capitalization of $1 million, and counted such businessmen and civic leaders as Marshall Field, Martin A. Ryerson, and Philip D. Armour among the original 27 shareholders. Intimately acquainted with the operations of the bank, these men would personally examine Northern's assets and records at each year's end.

In October 1929, however, the flamboyant decade of the 1920s came to a sudden halt—the stock market crash led to a spectacular drop in prices, employment and production. As these troubles swept across the country, one bank after another closed. Two days after his inauguration on March 6, 1933, Franklin D. Roosevelt closed all the banks in the United States. When they reopened a short time later, there was a great deal of uncertainty as to what might occur. Fortunately, the people in line outside the Northern bank offices were there to deposit money instead of withdraw it. Northern's conservative policies had served it well during the 1920s.