Northern Trust Reports a Solid 2Q; Expense Management Impresses
Wide-moat Northern Trust reported solid second-quarter results in a challenging environment. Total revenue came in at $1.51 billion, up 2% from the first quarter and flat year over year. The year-over-year comparison was weighed by foreign exchange trading income, which was weak as a result of subdued currency volatility. Northern Trust continues to manage expenses well, and excluding severance items, noninterest expenses were down 1% sequentially and up 1% year over year (about 2% excluding for...Northern Trust is a financial holding company. Through its subsidiaries, including The Northern Trust Company, the company provides wealth management, asset servicing, asset management and banking solutions. The company focuses on managing and servicing client assets through two segments: Corporate and Institutional Services, which provides asset servicing and related services to corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors; and Wealth Management, which focuses on individuals and families, business owners, executives, retirees, and privately-held businesses in its target markets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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