# NORTHERN TRUST CORP

Summary updated: 2026-10-02T10:03:57.769426Z
Canonical: https://finbar.com/research/companies/northern-trust

## Overview

Northern Trust Corporation is a financial services company providing wealth management, asset servicing, asset management and banking solutions to corporations, institutions, families and individuals. Its principal reporting segments are Asset Servicing and Wealth Management. Services include custody and fund administration, investment management, trust and estate services, financial consulting, and private and business banking. [1](https://app.finbar.com/go?id=P26517056)[2](https://app.finbar.com/go?id=P75872605)[3](https://app.finbar.com/go?id=P4060706)[4](https://app.finbar.com/go?id=P29205056)

Founded in Chicago in 1889, Northern Trust serves clients through offices in 24 U.S. states and Washington, D.C., and 22 international locations spanning Canada, Europe, the Middle East and Asia-Pacific. [5](https://app.finbar.com/go?id=P59765438)[6](https://app.finbar.com/go?id=P95639405) The company reported $8.1 billion in revenue for 2025 and says it has more than 23,000 employees. [7](https://www.northerntrust.com/content/dam/northerntrust/corporate/global/en/documents/about-us/investor-relations/2025/annual-report-2025-message-to-shareholders.pdf)[8](https://www.northerntrust.com/united-states/about-us) Northern Trust describes its mission as being clients’ most trusted partner and a socially responsible member of global communities. [8](https://www.northerntrust.com/united-states/about-us)
[1](https://app.finbar.com/go?id=P26517056)[2](https://app.finbar.com/go?id=P75872605)[3](https://app.finbar.com/go?id=P4060706)[4](https://app.finbar.com/go?id=P29205056)[5](https://app.finbar.com/go?id=P59765438)[6](https://app.finbar.com/go?id=P95639405)[7](https://www.northerntrust.com/content/dam/northerntrust/corporate/global/en/documents/about-us/investor-relations/2025/annual-report-2025-message-to-shareholders.pdf)[8](https://www.northerntrust.com/united-states/about-us)

## Products & services

Northern Trust’s Asset Servicing offerings for institutional investors include custody and fund administration, investment-operations outsourcing, investment management, investment-risk and analytical services, securities lending, foreign exchange, treasury and cash management, brokerage, transition management, employee-benefit services, and banking. Custody and fund-administration fees are principally tied to client assets under custody or administration, transaction volumes, and account counts; investment-management fees generally track assets under management. [3](https://app.finbar.com/go?id=P4060706)[9](https://app.finbar.com/go?id=P79983579)[10](https://app.finbar.com/go?id=P41024408)

Wealth Management services for individuals, families, business owners, and privately held businesses include trust and investment management, custody, philanthropy, financial consulting, guardianship and estate administration, family-business consulting, family financial education, brokerage, and private and business banking. Its Global Family Office offering combines customized investment management, global custody, fiduciary and private-banking services, family-office consulting, and technology solutions. [11](https://app.finbar.com/go?id=P78347288)

Investment products available across the business include separately managed accounts; bank common and collective funds; registered investment companies and ETFs; non-U.S. collective investment funds; and unregistered private investment funds. Investment capabilities span active and passive equity and fixed income, cash management, multi-asset strategies and alternatives such as private equity and hedge funds of funds, as well as multi-manager advisory, overlay, and other risk-management services. [12](https://app.finbar.com/go?id=P93610063) In 2025, Asset Servicing generated $2,800.2 million and Wealth Management $2,217.6 million in trust, investment and other servicing fees—approximately 55.8% and 44.2%, respectively, of their combined total. [13](https://app.finbar.com/go?id=T5534848)
[3](https://app.finbar.com/go?id=P4060706)[9](https://app.finbar.com/go?id=P79983579)[10](https://app.finbar.com/go?id=P41024408)[11](https://app.finbar.com/go?id=P78347288)[12](https://app.finbar.com/go?id=P93610063)[13](https://app.finbar.com/go?id=T5534848)[13](https://app.finbar.com/go?id=T5534848)

## Geographic presence

Northern Trust’s geographic footprint spans 24 U.S. states and Washington, D.C., as well as 22 locations across Canada, Europe, the Middle East and Asia-Pacific. Chicago is its executive-office location; other identified operations and support facilities include London, two locations in India, Ireland and the Philippines. [6](https://app.finbar.com/go?id=P95639405)

At year-end 2025, the company had approximately 23,800 full-time-equivalent employees: 42% in Asia-Pacific, 41% in North America and 17% in Europe, the Middle East and Africa. [14](https://app.finbar.com/go?id=P21801016) Its reported assets under custody were $8,066.1 billion in North America, $4,330.0 billion in Europe/Middle East/Africa and $1,000.9 billion in Asia-Pacific. [15](https://app.finbar.com/go?id=T4401924)

A geographic revenue split is not reported in the cited disclosure: Northern Trust notes that it does not separately identify non-U.S.-source income and assets in internal management reporting, and that allocating revenue by customer domicile is difficult. [16](https://app.finbar.com/go?id=P10017723)
[6](https://app.finbar.com/go?id=P95639405)[14](https://app.finbar.com/go?id=P21801016)[15](https://app.finbar.com/go?id=T4401924)[15](https://app.finbar.com/go?id=T4401924)[15](https://app.finbar.com/go?id=T4401924)[16](https://app.finbar.com/go?id=P10017723)

## Business segments

Northern Trust reports two client-focused business segments: **Asset Servicing**, serving institutional investors with custody, fund administration, investment operations and related investment, banking and securities-lending services; and **Wealth Management**, serving high-net-worth individuals and families, business owners, professionals, retirees and privately held businesses with fiduciary, investment, wealth and banking services. [2](https://app.finbar.com/go?id=P75872605)[17](https://app.finbar.com/go?id=P53788846)[18](https://app.finbar.com/go?id=P93666115)

On a full-year 2025 basis, Asset Servicing generated $4,764.7 million, approximately **58.9%** of consolidated revenue, while Wealth Management generated $3,376.7 million, approximately **41.8%**. Other was negative $55.0 million (approximately **−0.7%**); total consolidated revenue was $8,086.4 million. [19](https://app.finbar.com/go?id=T9565790)[20](https://app.finbar.com/go?id=T6800144) These segment revenue measures are reported on a full-time-equivalent (FTE) basis. [21](https://app.finbar.com/go?id=P27928188)[22](https://app.finbar.com/go?id=P145002177)

For the six months ended June 30, 2026, the latest interim period identified, Asset Servicing contributed approximately **54.6%** of consolidated revenue ($2,679.8 million) and Wealth Management approximately **36.4%** ($1,782.4 million); Other contributed approximately **9.0%** ($441.5 million), out of $4,903.7 million total. [23](https://app.finbar.com/go?id=T16581720) Asset Management is not a separate client-focused reporting segment: its revenue and expenses are allocated to the two segments. Other includes corporate and support-function amounts and certain non-recurring items; some support activities moved into Other following a January 2025 organizational change. [12](https://app.finbar.com/go?id=P93610063)[24](https://app.finbar.com/go?id=P113080440)[25](https://app.finbar.com/go?id=P34968154)[26](https://app.finbar.com/go?id=P81338374)
[2](https://app.finbar.com/go?id=P75872605)[17](https://app.finbar.com/go?id=P53788846)[18](https://app.finbar.com/go?id=P93666115)[19](https://app.finbar.com/go?id=T9565790)[19](https://app.finbar.com/go?id=T9565790)[20](https://app.finbar.com/go?id=T6800144)[20](https://app.finbar.com/go?id=T6800144)[21](https://app.finbar.com/go?id=P27928188)[22](https://app.finbar.com/go?id=P145002177)[23](https://app.finbar.com/go?id=T16581720)[23](https://app.finbar.com/go?id=T16581720)[23](https://app.finbar.com/go?id=T16581720)[23](https://app.finbar.com/go?id=T16581720)[12](https://app.finbar.com/go?id=P93610063)[24](https://app.finbar.com/go?id=P113080440)[25](https://app.finbar.com/go?id=P34968154)[26](https://app.finbar.com/go?id=P81338374)

## Company history

Northern Trust was founded in Chicago on August 12, 1889, by Byron Laflin Smith and 32 other investors. [27](https://www.northerntrust.com/united-states/about-us/our-history)[28](https://cdn.northerntrust.com/pws/nt/documents/about-us/northern-trust-annual-report-2014.pdf) In 1971, Northern Trust Corporation was organized as the holding company and became the owner of The Northern Trust Company. [29](https://www.northerntrust.com/united-states/about-us/investor-relations/shareholder-stock-information)

The company expanded its international and asset-servicing operations through acquisitions, including the 2005 purchase of Baring Asset Management’s Financial Services Group, which added operations in Guernsey, Jersey and the Isle of Man. [30](https://www-ac.northerntrust.com/content//media/attachment/data/annual_report/0702/document/NT_Financial_web_2006.pdf?1373387488492=) In 2011, it acquired hedge-fund administrator Omnium LLC, which became Northern Trust Hedge Fund Services LLC. [31](https://app.finbar.com/go?id=P196674678)

Frederick H. Waddell became CEO in 2008 and chairman in 2009; Michael G. O’Grady became CEO in 2018 and chairman in 2019. [32](https://app.finbar.com/go?id=P191524552)[33](https://app.finbar.com/go?id=P15752241)
[31](https://app.finbar.com/go?id=P196674678)[32](https://app.finbar.com/go?id=P191524552)[33](https://app.finbar.com/go?id=P15752241)[27](https://www.northerntrust.com/united-states/about-us/our-history)[28](https://cdn.northerntrust.com/pws/nt/documents/about-us/northern-trust-annual-report-2014.pdf)[29](https://www.northerntrust.com/united-states/about-us/investor-relations/shareholder-stock-information)[30](https://www-ac.northerntrust.com/content//media/attachment/data/annual_report/0702/document/NT_Financial_web_2006.pdf?1373387488492=)

## Sources

1. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P26517056)
2. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P75872605)
3. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P4060706)
4. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P29205056)
5. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P59765438)
6. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P95639405)
7. [www.northerntrust.com](https://www.northerntrust.com/content/dam/northerntrust/corporate/global/en/documents/about-us/investor-relations/2025/annual-report-2025-message-to-shareholders.pdf)
8. [www.northerntrust.com](https://www.northerntrust.com/united-states/about-us)
9. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P79983579)
10. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P41024408)
11. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P78347288)
12. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P93610063)
13. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T5534848)
14. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P21801016)
15. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T4401924)
16. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P10017723)
17. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P53788846)
18. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P93666115)
19. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9565790)
20. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=T6800144)
21. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P27928188)
22. [NORTHERN TRUST CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145002177)
23. [NORTHERN TRUST CORP — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16581720)
24. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P113080440)
25. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P34968154)
26. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P81338374)
27. [www.northerntrust.com](https://www.northerntrust.com/united-states/about-us/our-history)
28. [cdn.northerntrust.com](https://cdn.northerntrust.com/pws/nt/documents/about-us/northern-trust-annual-report-2014.pdf)
29. [www.northerntrust.com](https://www.northerntrust.com/united-states/about-us/investor-relations/shareholder-stock-information)
30. [www-ac.northerntrust.com](https://www-ac.northerntrust.com/content//media/attachment/data/annual_report/0702/document/NT_Financial_web_2006.pdf?1373387488492=)
31. [NORTHERN TRUST CORP — Full financial report (2011 Y)](https://app.finbar.com/go?id=P196674678)
32. [NORTHERN TRUST CORP — Full financial report (2014 Y)](https://app.finbar.com/go?id=P191524552)
33. [NORTHERN TRUST CORP — Full financial report (2025 Y)](https://app.finbar.com/go?id=P15752241)

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