NORTHERN TRUST CORP (NTRS)

Northern Trust Corporation is a financial holding company and a leading provider of wealth management, asset servicing, asset management and banking solutions to corporations, institutions, families and individuals. It operates through U.S. and non-U.S. subsidiaries, principally The Northern Trust Company, an Illinois banking corporation founded in 1889 and headquartered in Chicago. The Corporation was formed as the Bank's holding company in 1971, and the Bank is expected to remain the major source of its assets, revenues and net income. At December 31, 2025, the Corporation had total assets of $177.1 billion and stockholders' equity of $13.0 billion.

Northern Trust reports through two segments, Asset Servicing and Wealth Management, with certain items not allocated to them reported in Other. Asset Servicing offers custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage, transition management, banking and cash management. It had $17.4 trillion of assets under custody/administration and $1.3 trillion of assets under management at year-end 2025. Wealth Management provides trust, investment management, custody and philanthropic services, financial consulting, guardianship and estate administration, family business consulting, brokerage, and private and business banking. It also includes Global Family Office, which serves family offices. Wealth Management had $1.3 trillion of assets under custody/administration and $507.2 billion of assets under management. Asset Management supports both segments, and its revenue and expenses are fully allocated to them. It delivers active and passive equity and fixed income, cash management, multi-asset and alternative strategies, multi-manager advisory products, and overlay and risk management services. Vehicles include separately managed accounts, collective funds, registered investment companies, ETFs, non-U.S. funds and private funds. Total assets under management were $1.8 trillion.

Asset Servicing clients are corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds and other institutional investors worldwide. Wealth Management targets high-net-worth individuals and families, business owners, executives, professionals, retirees and established privately held businesses. Wealth Management is one of the largest providers of advisory services in the United States and serves clients through offices in 19 U.S. states and Washington, D.C., plus London, Guernsey, Singapore and Abu Dhabi.

Northern Trust has offices in 24 U.S. states and Washington, D.C., and in 22 locations across Canada, Europe, the Middle East and Asia-Pacific. Its competitors include other custodial banks, investment counseling firms, deposit-taking institutions, asset management firms, benefits consultants, trust companies, investment banks, insurance companies and financial technology companies. Its growth strategy is to use its differentiators (brand, expertise, tailored technology, relationships and network, and balance sheet) to serve targeted client segments with specialized solutions in select geographies. It emphasizes scalable, fee-based income and continued investment in talent, technology, data, AI and operations. The Corporation is regulated as a financial holding company by the Federal Reserve Board, and the Bank is also regulated by the FDIC and Illinois authorities.