Northern Trust Corp

NTRS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$48.00	Zkkvk	Yqpndlblrg

Northern Trust Has a Strong Wealth-Management Business, but Net Interest Income Trends Choppy

Rajiv Bhatia

Jan 24, 2024

Business Strategy and Outlook

Northern Trust consists of two moaty segments: wealth management and a custody business known asset servicing (previously corporate and institutional services or C&IS). Both segments are supported by the firm’s asset-management capabilities.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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