Northern Trust

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Northern Trust Corporation operates as the holding company for The Northern Trust Company (bank) that provides a range of banking and financial services in the United States and internationally. The bank engages in generating deposits and originating loans. Its deposit products include demand, savings, money market, and time deposit accounts. The bank’s loan portfolio comprises residential real estate, commercial, broker, commercial real estate, personal loans, as well as lease financing. It also offers various financial services, including asset administration, asset management, and related services to corporate and public entity retirement funds, foundation and endowment clients, fund managers, insurance companies, and government funds.

The bank also provides investment management, securities lending, transition management, and commission recapture services, as well as provides related foreign exchange services. In addition, it offers personal trust, custody, and investment management services; investment management and related services and other products to institutional and individual separately managed accounts, bank common and collective funds, registered investment companies, non-U.S. collective investment funds and unregistered private investment funds, including funds of funds. Northern Trust Corporation was founded in 1889 and is based in Chicago, Illinois.

Northern Trust began in Chicago in 1889, founded as a trust company for rich individuals and the businesses that were booming in the city of Big Shoulders.  While many banks and financial services companies went bust during the Great Depression, the firm held on—and continued to grow during World War II and onward.  In 1969, it expanded and opened across the Atlantic in London, making it the first Illinois bank to extend overseas.  In 1974, Northern Trust developed services to address new standards set out in the Employees Retirement and Income Security Act.

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