Market Summary
USD68.96-0.26
Market Closed-0.38%
NTRS Alerts
NTRS Stock Price
NTRS RSI Chart
NTRS Valuation
NTRS Price/Sales (Trailing)
NTRS Profitability
NTRS Fundamentals
NTRS Revenue
NTRS Earnings
Price Action
52 Week Range
68.36100.25
(Low)(High)
Last 7 days
-2.1%
Last 30 days
-7.6%
Last 90 days
-4.2%
Trailing 12 Months
-20.5%
NTRS Financial Health
NTRS Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for NTRS
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-07-31 | SMITH DAVID BYRON JR | gifted | - | - | 2,600 | - |
2023-07-01 | Prado Becerra Jose Luis | acquired | 10,024 | 74.14 | 135 | - |
2023-07-01 | Klevorn Marcy S | acquired | 4,515 | 74.14 | 60.91 | - |
2023-07-01 | Thompson Donald | acquired | 11,597 | 74.14 | 156 | - |
2023-07-01 | BYNOE LINDA | acquired | 6,307 | 74.14 | 85.08 | - |
2023-07-01 | Tribbett Charles A | acquired | 10,475 | 74.14 | 141 | - |
2023-07-01 | CROWN SUSAN | acquired | 7,325 | 74.14 | 98.81 | - |
2023-07-01 | SLARK MARTIN P | acquired | 5,204 | 74.14 | 70.2 | - |
2023-07-01 | Harrison Dean M | acquired | 11,895 | 74.14 | 160 | - |
2023-06-30 | Harrison Dean M | acquired | 41,250 | 74.14 | 556 | - |
Which funds bought or sold NTRS recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-21 | Baystate Wealth Management LLC | sold off | - | - | - | -% |
2023-09-20 | BARCLAYS PLC | added | 53.46 | 8,343,000 | 37,013,000 | 0.02% |
2023-09-12 | Farther Finance Advisors, LLC | reduced | -25.00 | -3,513 | 6,005 | -% |
2023-09-05 | Delos Wealth Advisors, LLC | reduced | -95.08 | -10,307 | 445 | -% |
2023-08-24 | Alberta Investment Management Corp | unchanged | - | -67,152 | 355,872 | -% |
2023-08-24 | Harvest Investment Advisors, LLC | added | 12.38 | -67,304 | 1,164,660 | 1.00% |
2023-08-23 | CTC Alternative Strategies, Ltd. | new | - | 237,248 | 237,248 | 0.30% |
2023-08-23 | Stonebridge Capital Advisors LLC | unchanged | - | -18,467 | 97,865 | 0.01% |
2023-08-22 | COMERICA BANK | new | - | 20,000 | 20,000 | -% |
2023-08-22 | Asset Dedication, LLC | unchanged | - | -3,000 | 14,000 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
NTRS Alerts
Schedule 13G FIlings of Northern Trust
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 09, 2023 | vanguard group inc | 11.36% | 23,674,989 | SC 13G/A | |
| Jan 31, 2023 | blackrock inc. | 7.5% | 15,562,571 | SC 13G/A | |
| Feb 10, 2022 | vanguard group inc | 10.72% | 22,253,836 | SC 13G/A | |
| Feb 01, 2022 | blackrock inc. | 7.4% | 15,419,837 | SC 13G/A | |
| Feb 12, 2021 | northern trust corp | 4.6% | 9,638,884 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 10.43% | 21,703,384 | SC 13G/A | |
| Feb 04, 2021 | wellington management group llp | 0.78% | 1,625,746 | SC 13G/A | |
| Jan 29, 2021 | blackrock inc. | 6.7% | 13,952,267 | SC 13G/A | |
| Oct 13, 2020 | vanguard group inc | 10.59% | 22,032,480 | SC 13G/A | |
| Feb 12, 2020 | northern trust corp | 6.3% | 13,395,463 | SC 13G/A |
Recent SEC filings of Northern Trust
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Aug 11, 2023 | 13F-HR | Fund Holdings Report | |
| Aug 04, 2023 | S-3ASR | S-3ASR | |
| Aug 02, 2023 | 4 | Insider Trading | |
| Jul 25, 2023 | 10-Q | Quarterly Report | |
| Jul 19, 2023 | 8-K | Current Report | |
| Jul 05, 2023 | 4 | Insider Trading | |
| Jul 05, 2023 | 4 | Insider Trading | |
| Jul 05, 2023 | 4 | Insider Trading | |
| Jul 05, 2023 | 4 | Insider Trading | |
| Jul 05, 2023 | 4 | Insider Trading |
NTRS Fair Value
Loading...
Peers (Alternatives to Northern Trust)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
AAPL | 2.7T | 383.9B | -3.72% | 14.24% | 28.4 | 7.01 | -0.93% | -4.89% |
MSFT | 2.3T | 211.9B | -3.36% | 31.83% | 32.06 | 10.95 | 6.88% | -0.52% |
GOOG | 1.6T | 289.5B | -0.95% | 31.01% | 26.82 | 5.65 | 4.10% | -15.36% |
AMZN | 1.3T | 538.0B | -5.46% | 9.41% | 99.39 | 2.41 | 10.73% | 12.62% |
| MID-CAP | ||||||||
JBLU | 1.5B | 9.9B | -27.56% | -33.79% | 54.14 | 0.15 | 24.14% | 106.11% |
NYMT | 766.5M | 246.5M | -8.20% | 4.63% | -4.82 | 3.11 | 6.65% | -174.04% |
| SMALL-CAP | ||||||||
TLRY | 1.6B | 627.1M | -7.75% | -11.11% | -1.08 | 2.51 | -0.20% | -204.67% |
PLAY | 1.5B | 2.2B | -9.70% | 14.84% | 10.83 | 0.7 | 38.20% | -10.10% |
NKLA | 1.2B | 56.2M | 14.50% | -61.04% | -1.37 | 20.54 | 40.31% | -12.26% |
MFA | 1.0B | 543.3M | -6.71% | 14.01% | -692.78 | 1.85 | 31.74% | 78.13% |
BYND | 602.7M | 356.8M | -18.87% | -35.56% | -2.14 | 1.69 | -23.03% | 15.53% |
CGC | 507.6M | 453.3M | 136.46% | -66.34% | -0.41 | 1.12 | -16.04% | 55.90% |
GPRO | 486.9M | 1.0B | -15.55% | -36.87% | -18.42 | 0.47 | -11.34% | -107.10% |
INO | 99.4M | 13.7M | -11.02% | -77.34% | -0.59 | 7.28 | 413.65% | 52.51% |
Northern Trust News
Returns for NTRS
Cumulative Returns on NTRS
4.4%
10-Year Cumulative Returns
2.3%
7-Year Cumulative Returns
-5.7%
5-Year Cumulative Returns
-1.9%
3-Year Cumulative Returns
Risks for NTRS
What is the probability of a big loss on NTRS?
67.3%
Probability that Northern Trust stock will be more than 20% underwater in next one year
40.8%
Probability that Northern Trust stock will be more than 30% underwater in next one year.
16.5%
Probability that Northern Trust stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does NTRS drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Northern Trust was unfortunately bought at previous high price.
Drawdowns
Financials for Northern Trust
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 19.9% | 7,304 | 6,094 | 6,761 | 4,839 | 4,885 | 5,605 | 6,465 | 6,406 | 6,275 | 6,165 | 6,101 | 6,275 | 6,239 | 6,194 | 6,073 | 5,978 | 5,924 | 5,927 | 5,960 | 5,725 | 5,650 |
| EBITDA | -100.0% | - | 4,315 | 4,207 | 4,337 | 4,152 | 3,970 | 3,908 | 3,741 | 3,590 | 3,540 | 3,571 | 3,757 | 3,965 | 4,112 | 4,081 | 4,089 | 4,052 | 4,048 | 4,041 | - | - |
| EBITDA Margin | -100.0% | - | 0.63* | 0.62* | 0.66* | 0.79* | 0.77* | 0.77* | 0.75* | 0.74* | 0.75* | 0.77* | 0.82* | 0.87* | 0.91* | 0.93* | 0.94* | 0.94* | 0.94* | 0.93* | - | - |
| Interest Expenses | 2.6% | 2,090 | 2,037 | 1,887 | 1,713 | 1,547 | 1,424 | 1,383 | 2,265 | 2,247 | 2,284 | 1,443 | 1,965 | 2,054 | 2,099 | 1,678 | 2,181 | 2,172 | 2,168 | 1,623 | 1,586 | 1,532 |
| Earnings Before Taxes | -5.9% | 1,600 | 1,700 | 1,766 | 2,086 | 2,079 | 2,025 | 2,010 | 1,874 | 1,746 | 1,662 | 1,628 | 1,731 | 1,849 | 1,953 | 1,944 | 1,954 | 1,926 | 1,926 | 1,958 | 1,908 | 1,843 |
| EBT Margin | -100.0% | - | 0.25* | 0.26* | 0.32* | 0.40* | 0.39* | 0.40* | 0.38* | 0.36* | 0.35* | 0.35* | 0.38* | 0.41* | 0.43* | 0.44* | 0.45* | 0.45* | 0.45* | 0.45* | 0.44* | 0.44* |
| Net Income | -5.0% | 1,217 | 1,281 | 1,336 | 1,587 | 1,588 | 1,560 | 1,545 | 1,380 | 1,279 | 1,224 | 1,209 | 1,340 | 1,430 | 1,506 | 1,492 | 1,531 | 1,521 | 1,522 | 1,556 | 1,503 | 1,427 |
| Net Income Margin | -100.0% | - | 0.19* | 0.20* | 0.24* | 0.30* | 0.30* | 0.30* | 0.28* | 0.26* | 0.26* | 0.26* | 0.29* | 0.31* | 0.33* | 0.34* | 0.35* | 0.35* | 0.35* | 0.36* | 0.35* | 0.34* |
| Free Cashflow | -100.0% | - | 1,366 | 2,264 | 181 | 1,556 | 1,924 | 1,261 | 692 | 132 | 4,542 | 1,761 | 1,846 | 2,505 | -573 | 2,434 | 1,306 | 2,190 | 2,438 | 1,670 | 2,092 | 1,188 |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 3.7% | 156,753 | 151,108 | 155,037 | 159,840 | 157,786 | 172,565 | 183,890 | 169,086 | 172,291 | 163,924 | 170,004 | 152,082 | 151,433 | 161,709 | 136,828 | 124,356 | 126,551 | 121,869 | 132,213 | 132,379 | 135,106 |
| Cash Equivalents | 1.5% | 4,898 | 4,826 | 4,654 | 4,493 | 5,120 | 3,783 | 3,057 | 4,195 | 4,799 | 4,584 | 4,390 | 4,738 | 4,462 | 5,833 | 4,459 | 5,038 | 5,348 | 5,074 | 4,582 | 5,073 | - |
| Net PPE | -1.6% | 474 | 482 | 501 | 469 | 477 | 486 | 489 | 494 | 497 | 497 | 515 | 510 | 501 | 490 | 483 | 401 | 408 | 412 | 428 | 417 | 429 |
| Goodwill | 0.5% | 699 | 695 | 691 | 679 | 690 | 702 | 706 | 706 | 4.00 | 704 | 707 | 698 | 691 | 689 | 697 | 9.00 | 682 | 13.00 | 669 | 673 | 71.00 |
| Liabilities | 4.0% | 145,117 | 139,520 | 143,777 | 148,809 | 146,717 | 161,155 | 171,873 | 157,187 | 160,468 | 152,466 | 158,316 | 140,503 | 140,051 | 150,830 | 125,737 | 113,545 | 115,745 | 111,253 | 121,704 | 122,014 | 124,749 |
| Shareholder's Equity | 0.4% | 11,636 | 11,588 | 11,260 | 11,030 | 11,070 | 11,410 | 12,017 | 11,899 | 11,823 | 11,458 | 11,688 | 11,579 | 11,382 | 10,880 | 11,081 | 10,811 | 10,806 | 10,616 | 10,508 | 10,365 | 10,358 |
| Retained Earnings | 1.2% | 14,128 | 13,958 | 13,799 | 13,806 | 13,586 | 13,343 | 13,117 | 12,862 | 12,631 | 12,416 | 12,208 | 12,118 | 11,988 | 11,828 | 11,657 | 11,441 | 11,226 | 10,973 | 10,777 | 10,496 | 10,263 |
| Additional Paid-In Capital | 1.6% | 980 | 965 | 984 | 964 | 951 | 932 | 939 | 935 | 921 | 914 | 964 | 962 | 952 | 938 | 1,013 | 1,010 | 1,014 | 1,003 | 1,069 | 1,055 | 1,050 |
| Shares Outstanding | -0.6% | 207 | 208 | 208 | 208 | 208 | 208 | 208 | 208 | 208 | 208 | 208 | 208 | 208 | 209 | 210 | 213 | 216 | 218 | 219 | 222 | 224 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 102.1% | 2,992 | 1,481 | 2,392 | 282 | 1,660 | 2,035 | 1,356 | 790 | 231 | 4,650 | 1,897 | 2,057 | 2,712 | -387 | 2,592 | 1,415 | 2,292 | 2,539 | 1,768 | 2,159 | 1,262 |
| Cashflow From Investing | -98.7% | 273 | 20,523 | 25,930 | 2,983 | 8,855 | -13,410 | -18,602 | -16,620 | -17,863 | -3,289 | -29,923 | -25,517 | -25,027 | -36,512 | -3,405 | 7,977 | 8,041 | 4,779 | 4,327 | -2,707 | -10,106 |
| Cashflow From Financing | 84.0% | -3,305 | -20,718 | -26,437 | -2,513 | -9,882 | 10,663 | 16,074 | 15,270 | 17,896 | -2,741 | 27,872 | 23,147 | 21,502 | 37,770 | 616 | -9,421 | -9,877 | -8,097 | -5,818 | 540 | 8,112 |
| Dividend Payments | 1.2% | 771 | 761 | 750 | 583 | 583 | 583 | 583 | 584 | 583 | 583 | 585 | 588 | 571 | 556 | 530 | 503 | 468 | 431 | 405 | 379 | 372 |
| Buy Backs | 96.6% | 202 | 103 | 35.00 | 37.00 | 136 | 166 | 268 | 267 | 169 | 139 | 300 | 563 | 869 | 1,140 | 1,100 | 1,070 | 999 | 919 | 924 | 860 | 749 |
NTRS Income Statement
2023-06-30Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Noninterest Income | ||||
| Trust, Investment and Other Servicing Fees | $ 1,096.3 | $ 1,143.4 | $ 2,159.9 | $ 2,311.8 |
| Foreign Exchange Trading Income | 50.1 | 77.6 | 103.1 | 158.5 |
| Treasury Management Fees | 7.9 | 10.6 | 16.3 | 21.7 |
| Security Commissions and Trading Income | 36.1 | 32.8 | 70.8 | 69.0 |
| Other Operating Income | 55.2 | 45.6 | 102.0 | 86.7 |
| Investment Security Gains (Losses), net | 0.0 | 0.0 | 6.9 | 0.0 |
| Total Noninterest Income | 1,245.6 | 1,310.0 | 2,459.0 | 2,647.7 |
| Net Interest Income | ||||
| Interest Income | 1,735.0 | 524.8 | 3,190.4 | 908.3 |
| Interest Expense | 1,223.5 | 66.1 | 2,147.7 | 68.6 |
| Net Interest Income | 511.5 | 458.7 | 1,042.7 | 839.7 |
| (Release of) Provision for Credit Losses | (15.5) | 4.5 | (0.5) | 6.5 |
| Net Interest Income after Provision for Credit Losses | 527.0 | 454.2 | 1,043.2 | 833.2 |
| Noninterest Expense | ||||
| Compensation | 604.5 | 546.5 | 1,199.7 | 1,110.4 |
| Employee Benefits | 101.4 | 119.6 | 202.4 | 223.9 |
| Outside Services | 230.9 | 213.1 | 441.7 | 426.5 |
| Equipment and Software | 229.3 | 203.5 | 461.0 | 397.0 |
| Occupancy | 53.8 | 51.0 | 115.1 | 102.1 |
| Other Operating Expense | 112.0 | 89.9 | 197.6 | 169.6 |
| Total Noninterest Expense | 1,331.9 | 1,223.6 | 2,617.5 | 2,429.5 |
| Income before Income Taxes | 440.7 | 540.6 | 884.7 | 1,051.4 |
| Provision for Income Taxes | 108.9 | 144.4 | 218.3 | 265.9 |
| Net Income | 331.8 | 396.2 | 666.4 | 785.5 |
| Preferred Stock Dividends | 4.7 | 4.7 | 20.9 | 20.9 |
| Net Income Applicable to Common Stock | $ 327.1 | $ 391.5 | $ 645.5 | $ 764.6 |
| Per Common Share | ||||
| Net Income — Basic (in dollars per share) | $ 1.56 | $ 1.86 | $ 3.07 | $ 3.64 |
| Net Income - Diluted (in dollars per share) | $ 1.56 | $ 1.86 | $ 3.07 | $ 3.63 |
| Average Number of Common Shares Outstanding | ||||
| Basic (in shares) | 207,638,671 | 208,383,991 | 207,911,242 | 208,205,469 |
| Diluted (in shares) | 207,816,015 | 208,878,350 | 208,270,677 | 208,843,934 |
NTRS Balance Sheet
2023-06-30Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| ASSETS | ||
| Cash and Due from Banks | $ 4,897.7 | $ 4,654.2 |
| Federal Reserve and Other Central Bank Deposits | 42,727.7 | 40,030.4 |
| Interest-Bearing Deposits with Banks | 1,479.2 | 1,941.1 |
| Federal Funds Sold | 0.0 | 32.0 |
| Securities Purchased under Agreements to Resell | 1,228.9 | 1,070.3 |
| Debt Securities | ||
| Available for Sale | 24,264.4 | 26,699.9 |
| Held to Maturity | 26,006.3 | 25,036.1 |
| Trading Account | 0.1 | 95.2 |
| Total Debt Securities | 50,270.8 | 51,831.2 |
| Loans | ||
| Total Loans (Net of unearned income of $6.1 and $9.0) | 43,546.7 | 42,893.3 |
| Allowance for Credit Losses | (170.2) | (161.1) |
| Buildings and Equipment | 473.6 | 500.5 |
| Client Security Settlement Receivables | 431.3 | 1,698.3 |
| Goodwill | 698.8 | 691.3 |
| Other Assets | 11,168.0 | 9,855.2 |
| Total Assets | 156,752.5 | 155,036.7 |
| Deposits | ||
| Demand and Other Noninterest-Bearing | 12,144.2 | 16,582.7 |
| Savings, Money Market and Other Interest-Bearing | 23,535.5 | 31,128.6 |
| Savings Certificates and Other Time | 3,327.0 | 1,981.3 |
| Non U.S. Offices — Noninterest-Bearing | 9,182.2 | 8,757.6 |
| Non U.S. Offices — Interest-Bearing | 65,014.7 | 65,481.9 |
| Total Deposits | 113,203.6 | 123,932.1 |
| Federal Funds Purchased | 9,344.5 | 1,896.9 |
| Securities Sold Under Agreements to Repurchase | 988.1 | 567.2 |
| Other Borrowings | 12,382.0 | 7,592.3 |
| Senior Notes | 2,729.5 | 2,724.2 |
| Long-Term Debt | 2,061.5 | 2,066.2 |
| Other Liabilities | 4,407.6 | 4,998.3 |
| Total Liabilities | 145,116.8 | 143,777.2 |
| STOCKHOLDERS' EQUITY | ||
| Common Stock | 408.6 | 408.6 |
| Additional Paid-In Capital | 980.0 | 983.5 |
| Retained Earnings | 14,127.6 | 13,798.5 |
| Accumulated Other Comprehensive Loss | (1,405.9) | (1,569.2) |
| Treasury Stock | (3,359.5) | (3,246.8) |
| Total Stockholders’ Equity | 11,635.7 | 11,259.5 |
| Total Liabilities and Stockholders’ Equity | 156,752.5 | 155,036.7 |
| Series D Preferred Stock | ||
| STOCKHOLDERS' EQUITY | ||
| Preferred Stock | 493.5 | 493.5 |
| Series E Preferred Stock | ||
| STOCKHOLDERS' EQUITY | ||
| Preferred Stock | 391.4 | 391.4 |
| Commercial | ||
| Loans | ||
| Total Loans (Net of unearned income of $6.1 and $9.0) | 22,361.2 | 21,635.6 |
| Personal | ||
| Loans | ||
| Total Loans (Net of unearned income of $6.1 and $9.0) | $ 21,185.5 | $ 21,257.7 |
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management. The C&IS segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services. This segment serves corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors. The Wealth Management segment offers trust, investment management, custody, and philanthropic; financial consulting; guardianship and estate administration; family business consulting; family financial education; brokerage services; and private and business banking services. This segment serves high-net-worth individuals and families, business owners, executives, professionals, retirees, and established privately held businesses. The company also provides asset management services, such as active and passive equity; active and passive fixed income; cash management; alternative asset classes comprising private equity and hedge funds of funds; and multi-manager advisory services and products through separately managed accounts, bank common and collective funds, registered investment companies, exchange traded funds, non-U.S. collective investment funds, and unregistered private investment funds. In addition, it offers overlay and other risk management services. The company was founded in 1889 and is headquartered in Chicago, Illinois.