Northern Trust's ETF Business Is Off to a Good Start
The bank is on the right path.
Northern Trust (NTRS) is a large custodial bank that provides wealth management, asset servicing, and asset management, which encompasses its fund business. It is the world's fourth-largest index manager, with $484 billion in index assets, as of June 2017.
Most of its business comes from institutional clients, which represent about three fourths of the firm's assets under management. The firm was a latecomer to the exchange-traded fund industry, launching its first ETFs in 2011 under its FlexShares brand. Its ETF business has grown to $15 billion in assets, representing a small part of the entire firm.
Phillip Yoo does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.