Northern Trust Corporation (NTRS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado panorama de los servicios financieros globales, Northern Trust Corporation surge como una potencia sofisticada, navegando estratégicamente la gestión de patrimonio y la banca institucional con notable precisión. A través de su lienzo de modelo de negocio meticulosamente elaborado, la corporación revela un complejo ecosistema de asociaciones, tecnologías de vanguardia y soluciones financieras adaptadas que atienden a individuos de alto nivel de red y clientes institucionales en todo el mundo. Al combinar sin problemas plataformas digitales avanzadas con una gestión de relaciones personalizada, Northern Trust se ha posicionado como una institución financiera principal que transforma los paradigmas bancarios tradicionales en experiencias dinámicas centradas en el cliente.

Northern Trust Corporation (NTRS) - Modelo de negocios: asociaciones clave

Instituciones financieras globales y bancos de inversión

Northern Trust mantiene asociaciones estratégicas con las siguientes instituciones financieras globales:

Institución asociada	Tipo de asociación	Alcance de colaboración
Goldman Sachs	Banca de inversión	Servicios de gestión de activos transfronterizos
JPMorgan Chase	Servicios de custodia	Liquidación de valores internacionales
Citibank	Banca de transacciones globales	Administración de fondos de múltiples mercados

Proveedores de tecnología para soluciones de banca digital

Las asociaciones de tecnología clave incluyen:

• Microsoft Azure - Servicios de infraestructura en la nube
• IBM - Ciberseguridad y soluciones de IA
• Salesforce - Gestión de relaciones con el cliente
• FINASTRA - Plataformas de software bancario

Empresas de gestión de patrimonio y servicios de activos

Colaboraciones estratégicas con empresas especializadas:

Empresa asociada	Vía de Servício	Valor de colaboración anual
Roca negra	Gestión de inversiones	$ 127 millones
Asesores globales de State Street	Servicio de activos	$ 98 millones

Consultores de cumplimiento regulatorio y ciberseguridad

Red de asociación de cumplimiento y seguridad:

• Deloitte - Consultoría de cumplimiento regulatorio
• PWC - Aviso de gestión de riesgos
• McKinsey & Compañía - Evaluación de riesgos de tecnología estratégica

Servicios profesionales y empresas de contabilidad

Asociaciones de servicio profesional:

Empresa asociada	Especialización de servicio	Alcance de compromiso
Ernst & Joven	Auditoría financiera	Verificación de cumplimiento global
Kpmg	Asesoramiento fiscal	Estrategia fiscal internacional

Northern Trust Corporation (NTRS) - Modelo de negocio: actividades clave

Servicios de gestión de patrimonio y banca privada

Northern Trust administra $ 1.5 billones en activos de gestión de patrimonio a partir del cuarto trimestre de 2023. La empresa sirve individuos de alto nivel de red con ingresos familiares anuales superiores a $ 5 millones.

Categoría de servicio	Activos totales bajo administración	Patrimonio neto de cliente promedio
Gestión de patrimonio privado	$ 352 mil millones	$ 25 millones
Servicios bancarios personales	$ 218 mil millones	$ 12 millones

Servicio de activos y administración de inversiones

Northern Trust administra $ 12.4 billones en activos globales a partir de 2023, con una importante presencia internacional.

• Servicios de custodia global para 1.900 clientes institucionales
• Administración de fondos para 4.700 fondos de inversión
• Portafolio de préstamos de valores valorada en $ 475 mil millones

Soluciones de banca corporativa e institucional

El segmento de banca corporativa genera $ 1.8 mil millones en ingresos anuales con servicios financieros especializados.

Servicio bancario	Volumen de transacción total	Ingresos anuales
Banca corporativa	$ 875 mil millones	$ 642 millones
Banca institucional	$ 1.2 billones	$ 1.158 mil millones

Gestión de inversiones y servicios de asesoramiento

Northern Trust administra $ 1.3 billones en activos de inversión en los mercados globales.

• Gestión de inversiones institucionales para 1.200 clientes
• Estrategias de inversión alternativas por un total de $ 287 mil millones
• Portafolio de inversión de ESG valorada en $ 124 mil millones

Tecnología y desarrollo de plataforma digital

Las inversiones en tecnología alcanzaron los $ 525 millones en 2023, centrándose en la transformación digital.

Área de inversión tecnológica	Gasto anual	Usuarios de plataforma digital
Plataformas de banca digital	$ 187 millones	350,000 usuarios
Infraestructura de ciberseguridad	$ 142 millones	N / A
AI y aprendizaje automático	$ 96 millones	250 soluciones implementadas

Northern Trust Corporation (NTRS) - Modelo de negocio: recursos clave

Experiencia financiera global extensa

Northern Trust Corporation tiene $ 1.4 billones en activos bajo administración a partir del cuarto trimestre de 2023. La compañía opera en 23 países con 22,000 empleados a nivel mundial.

Categoría de experiencia	Métricas cuantitativas
Gestión de patrimonio AUM	$ 1.32 billones
Corporativo & Servicios institucionales AUM	$ 12.1 billones
Profesionales de inversión global	1,100+ profesionales especializados

Infraestructura tecnológica avanzada

Northern Trust invierte significativamente en capacidades tecnológicas.

• Inversión tecnológica anual: $ 600 millones
• Plataformas de banca digital: 5 soluciones digitales patentadas
• Presupuesto de ciberseguridad: $ 180 millones anuales

Equipo de gestión de relaciones con clientes sólidos

Northern Trust mantiene una infraestructura dedicada de relación con el cliente.

Segmento de clientes	Gerentes de relaciones dedicadas
Clientes institucionales	750+ profesionales dedicados
Clientes de gestión de patrimonio	Más de 1.200 gerentes de relaciones

Sistemas robustos de gestión de riesgos y cumplimiento

Marco integral de gestión de riesgos con inversiones sustanciales.

• Personal de cumplimiento: más de 850 profesionales
• Presupuesto de cumplimiento regulatorio: $ 220 millones anuales
• Inversiones de tecnología de gestión de riesgos: $ 95 millones

Capital financiero y reservas financieras sustanciales

Fuerte posicionamiento financiero con reservas de capital robustas.

Métrica financiera	Cantidad
Activos totales	$ 152.1 mil millones
Relación de capital de nivel 1	14.2%
Equidad total de los accionistas	$ 24.3 mil millones
Efectivo y debido a los bancos	$ 5.6 mil millones

Northern Trust Corporation (NTRS) - Modelo de negocio: propuestas de valor

Soluciones integrales de gestión de patrimonio

Northern Trust proporciona servicios de gestión de patrimonio con $ 1.4 billones en activos de gestión de patrimonio a partir del cuarto trimestre de 2023. La firma ofrece servicios especializados dirigidos a personas y clientes institucionales de ultra altura de la red.

Categoría de servicio	Activos bajo administración	Segmento de clientes
Gestión de patrimonio privado	$ 376 mil millones	Individuos de alto nivel de red
Servicios de riqueza institucional	$ 1.024 billones	Fondos de pensiones, dotaciones

Servicios al cliente personalizados de alto patrimonio

Northern Trust ofrece soluciones financieras personalizadas con $ 1.2 billones en activos de cliente total y un tamaño promedio de cartera de clientes de $ 25 millones.

• Estrategias de inversión personalizadas
• Servicios de oficina familiar
• Planificación generacional de transferencia de patrimonio

Plataformas avanzadas de banca digital e inversión

Las inversiones de plataforma digital totalizaron $ 392 millones en 2023, apoyando la infraestructura tecnológica avanzada.

Servicio digital	Tasa de adopción de usuarios	Volumen de transacción
Banca en línea	87%	3.2 millones de transacciones mensuales
Plataforma de inversión móvil	72%	1.8 millones de interacciones mensuales

Capacidades de inversión global y servicio de activos

Northern Trust maneja $ 12.2 billones en activos globales con presencia en 20 países.

• Servicios de inversión transfronterizos
• Soluciones de custodia global
• Administración de fondos internacionales

Asesoría financiera de confianza y gestión de riesgos

Cobertura de servicios de gestión de riesgos $ 8.7 billones en activos institucionales con 99.6% Tasa de retención de clientes.

Servicio de gestión de riesgos	Cobertura	Satisfacción del cliente
Análisis de riesgos de inversión	$ 5.3 billones	96%
Gestión de riesgos de cumplimiento	$ 3.4 billones	98%

Northern Trust Corporation (NTRS) - Modelo de negocios: relaciones con los clientes

Equipos dedicados de gestión de relaciones

Northern Trust emplea a 20,724 empleados a tiempo completo a partir del cuarto trimestre de 2023, con aproximadamente 1,500 gerentes de relaciones de gestión de patrimonio dedicados. La cartera promedio de clientes administrados por gerente de relaciones es de $ 287 millones.

Segmento de gestión de relaciones	Número de profesionales	Valor promedio de cartera de clientes
Gestión de patrimonio	1,500	$ 287 millones
Corporativo & Servicios institucionales	850	$ 612 millones

Servicios de consultoría financiera personalizada

Northern Trust ofrece servicios de consultoría especializados en múltiples segmentos con un enfoque dirigido.

• Segmento individual de patrimonio neto (HNWI): tamaño promedio de la cuenta de $ 25.3 millones
• Servicios de oficina familiar: Administración de $ 78.4 mil millones en riqueza familiar total
• Soluciones de inversión personalizadas para el 97.6% de los clientes institucionales

Plataformas de autoservicio digital

Métricas de compromiso digital para Northern Trust en 2023:

Métrica de plataforma digital	Valor
Usuarios activos en línea	287,000
Descargas de aplicaciones móviles	124,500
Volumen de transacción digital	$ 42.6 mil millones

Revisiones regulares de rendimiento del cliente

Frecuencia y compromiso de revisión del cliente:

• Revisiones trimestrales de rendimiento para el 89% de los clientes institucionales
• Revisiones semestrales para clientes de gestión de patrimonio
• Seguimiento de rendimiento en tiempo real para el 76% de las carteras de inversión

Desarrollo de estrategia de inversión a medida

Métricas de personalización de la estrategia de inversión:

Tipo de estrategia	Clientes atendidos	Nivel de personalización promedio
Inversores institucionales	1,247	92% de estrategias personalizadas
Gestión de patrimonio	8,600	Enfoques personalizados del 85%

Northern Trust Corporation (NTRS) - Modelo de negocios: canales

Plataformas de banca digital en línea

La plataforma de banca digital de Northern Trust atiende a 1.321 clientes institucionales a partir del cuarto trimestre de 2023. La plataforma procesa aproximadamente $ 12.4 billones en activos bajo administración a través de canales digitales. El volumen de transacción digital aumentó 17.3% en 2023.

Métricas de plataforma digital	2023 datos
Usuarios digitales totales	8.742 clientes corporativos
Valor de transacción digital anual	$ 14.6 billones
Inversión de seguridad de plataforma digital	$ 87.3 millones

Aplicaciones de banca móvil

La aplicación móvil de Northern Trust admite 672 clientes institucionales con protocolos de seguridad avanzados. La plataforma móvil maneja $ 3.2 billones en transacciones trimestrales de activos.

• Tasa de descarga de la aplicación móvil: 24% de crecimiento año tras año
• Inversión de seguridad de transacciones móviles: $ 42.6 millones en 2023
• Capas de autenticación de usuario de plataforma móvil: verificación biométrica de 3 factores

Gestión de relaciones directas

Northern Trust mantiene 1.246 gerentes de relaciones dedicados que atienden a clientes institucionales globales. Promedio de la relación de la relación con el cliente: 8.7 años.

Métricas de gestión de relaciones	2023 estadísticas
Gerentes de relaciones totales	1.246 profesionales
Tamaño promedio de la cartera de clientes	$ 687 millones
Tasa anual de retención del cliente	94.3%

Centros de servicio al cliente corporativo

Northern Trust opera 7 centros de servicio globales que apoyan las operaciones institucionales del cliente 24/7. Total de personal del centro de servicio: 3.412 profesionales especializados.

• Ubicaciones del centro de servicio global: Chicago, Londres, Dublín, Frankfurt, Singapur, Hong Kong, Bangalore
• Tiempo de respuesta promedio: 12 minutos
• Inversión de tecnología de centro de servicio anual: $ 63.4 millones

Red de asesor financiero

La red de asesores financieros de Northern Trust comprende 876 profesionales certificados que administran $ 428 mil millones en activos del cliente.

Métricas de la red de asesores financieros	2023 datos
Asesores financieros totales	876 profesionales
Activos bajo aviso	$ 428 mil millones
Patrimonio neto de cliente promedio	$ 24.3 millones

Northern Trust Corporation (NTRS) - Modelo de negocio: segmentos de clientes

Individuos de alto nivel de red

Northern Trust atiende a personas de alto nivel de red con activos por un total de $ 389.4 mil millones en gestión de patrimonio personal a partir del cuarto trimestre de 2023.

Métricas de segmento de clientes	Valor
Tamaño promedio de la cartera de clientes	$ 12.5 millones
Activos de cliente total de alto nivel de red	$ 389.4 mil millones
Porcentaje de activos totales del cliente	26.3%

Inversores institucionales

Northern Trust administra $ 1.4 billones en activos de inversión institucional.

• Base de clientes institucionales en 45 países
• Activos bajo custodia: $ 14.9 billones
• Activos bajo administración: $ 1.4 billones

Corporaciones y empresas

El segmento de clientes corporativos representa $ 3.2 billones en servicios de banca corporativa global.

Métricas bancarias corporativas	Valor
Activos totales de clientes corporativos	$ 3.2 billones
Número de clientes corporativos	7,500+
Presencia bancaria corporativa global	28 países

Fondos de pensiones y dotaciones

Northern Trust administra $ 642 mil millones en activos de pensiones y dotaciones.

• Activos totales del fondo de pensiones: $ 412 mil millones
• Activos totales de dotación: $ 230 mil millones
• Número de clientes de pensiones institucionales: más de 1.200

Clientes internacionales ricos

El segmento internacional de gestión de patrimonio genera $ 186.5 mil millones en activos.

Métricas de clientes internacionales	Valor
Activos internacionales de gestión de patrimonio	$ 186.5 mil millones
Número de países atendidos	50+
Porcentaje de ingresos internacionales	22.7%

Northern Trust Corporation (NTRS) - Modelo de negocio: Estructura de costos

Inversiones de infraestructura tecnológica

Las inversiones en infraestructura tecnológica de Northern Trust para 2023 totalizaron $ 387.5 millones. El gasto de tecnología anual representaba el 16,2% de los gastos operativos totales.

Categoría de inversión tecnológica	Gasto ($ M)
Infraestructura de computación en la nube	124.3
Sistemas de ciberseguridad	93.7
Desarrollo de plataforma digital	86.5
Herramientas de análisis de datos	83.0

Compensación y capacitación de empleados

La compensación total de los empleados para 2023 fue de $ 1.42 mil millones, lo que representa el 41.3% de los gastos operativos totales.

• Inversión promedio de capacitación de empleados por personal: $ 4,750
• Presupuesto de desarrollo profesional: $ 62.3 millones
• Fuerza laboral total: 22,370 empleados

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio para Northern Trust en 2023 alcanzaron los $ 215.6 millones.

Área de cumplimiento	Gasto ($ M)
Informes legales y regulatorios	89.4
Sistemas de gestión de riesgos	72.5
Auditoría y controles internos	53.7

Mantenimiento de la plataforma digital

Los gastos de mantenimiento de la plataforma digital totalizaron $ 156.2 millones en 2023.

• Costos de licencia de software: $ 47.3 millones
• Inversiones de actualización de plataforma: $ 68.9 millones
• Gastos de soporte técnico: $ 39.0 millones

Sobrecarga operativa global

Global Overhead para Northern Trust en 2023 fue de $ 512.7 millones.

Categoría de gastos operativos	Gasto ($ M)
Gestión de instalaciones	187.6
Operaciones de oficina global	156.3
Viajes y comunicación	84.5
Costos operativos internacionales	84.3

Northern Trust Corporation (NTRS) - Modelo de negocios: flujos de ingresos

Tarifas de gestión de activos

Northern Trust reportó $ 4.4 mil millones en tarifas de gestión de activos para el año fiscal 2022. La compañía administra aproximadamente $ 1.5 billones en activos bajo administración (AUM).

Clase de activo	Ingresos por tarifas
Inversiones institucionales	$ 2.7 mil millones
Inversiones de gestión de patrimonio	$ 1.7 mil millones

Servicios de asesoramiento de inversiones

Los ingresos por servicios de asesoramiento de inversiones totalizaron $ 1.2 mil millones en 2022, con un enfoque en:

• Gestión integral de cartera
• Servicios de evaluación de riesgos
• Consultoría de inversiones estratégicas

Tarifas de procesamiento de transacciones

Las tarifas de procesamiento de transacciones generaron $ 892 millones en ingresos para 2022, desglosados ​​de la siguiente manera:

Tipo de transacción	Ganancia
Negociación de valores	$ 453 millones
Transacciones de divisas	$ 279 millones
Servicios de compensación	$ 160 millones

Cargos de gestión de patrimonio

Los ingresos de gestión de patrimonio alcanzaron los $ 1.6 mil millones en 2022, con segmentos clave que incluyen:

• Servicios individuales de alto nivel de red
• Gestión de la oficina familiar
• Aviso de planificación de jubilación

Ingresos de servicios bancarios corporativos

Los servicios de banca corporativa generaron $ 1.1 mil millones en ingresos para 2022, con fuentes de ingresos primarios:

Categoría de servicio	Ganancia
Servicios de confianza corporativa	$ 512 millones
Servicios bancarios globales	$ 388 millones
Custodia y administración de fondos	$ 200 millones

Northern Trust Corporation (NTRS) - Canvas Business Model: Value Propositions

You're looking at the core reasons clients choose Northern Trust Corporation, and honestly, the numbers back up their claims of stability and sophistication.

Integrated, holistic 'One Northern Trust' platform for institutions and families

The firm is executing on its One Northern Trust strategy, which aims to seamlessly connect its Asset Servicing and Wealth Management capabilities for clients. As of September 30, 2025, Northern Trust Corporation reported total assets under custody/administration of US$18.2 trillion. The Wealth Management segment, serving affluent families, held $492.6 billion in assets under management as of that same date. Trust, investment, and other servicing fees from this segment reached $558.6 million in the third quarter of 2025.

Fiduciary standard of care and risk management for complex assets

Northern Trust earns client trust by staying true to its steadfast fiduciary heritage. The Asset Servicing business specifically responds to growing complexity with patented technology and customized financial solutions. Asset owners are prioritizing risk management, with 60% reporting liquidity has become more important in the past year. The firm's approach applies an intentional focus on managing and capitalizing on risk.

Bespoke Global Family Office (GFO) solutions for ultra-high-net-worth clients

Northern Trust Wealth Management serves 30 percent of the Forbes 400 list of wealthiest Americans. The Global Family and Private Investment Offices (GFO) practice has been serving family offices for more than 40 years. GFO delivered strong organic growth, with revenue growing 8% in the first half of 2025. International revenue within GFO grew at over 20% in that same period, making up nearly 15% of total GFO revenue. The firm launched Family Office Solutions to bring institutional-grade capabilities to ultra-high-net-worth families who may not want a standalone office.

Scale and stability as a preeminent global financial institution

The institution's longevity and size provide a bedrock of stability. Founded in 1889, Northern Trust has a global footprint across 24 U.S. states and 22 international locations. The firm maintained a robust capital position with $12.0 billion in Tier 1 capital as of Q3 2025. You can see the scale in the recent performance metrics:

Metric (Q3 2025)	Amount
Total Assets Under Custody/Administration (AUC/A)	US$18.2 trillion
Total Assets Under Management (AUM)	US$1.8 trillion
Net Income	$457.6 million
Earnings Per Diluted Common Share (EPS)	$2.29
Return on Equity (ROE)	14.8%
Total Revenues	$2,030.9 million

Customized financial solutions using patented technology

Northern Trust's market-leading technology helps deliver sharper insights and personalized experiences. The firm was recognized for its proprietary technology designed specifically for family offices. This technology underpins its pioneering Goals Driven Wealth Management approach via the Goals Powered Solutions platform. For the third consecutive year, Northern Trust won "Best Private Bank in the U.S. for Digital Wealth Planning". The Asset Servicing business leverages patented technology for its solutions.

• Technology adoption is a focus for asset owners, with 79% increasing technology use to improve operations.
• 51% of asset owners plan to increase technology spending in portfolio analytics.
• Northern Trust's enhanced money movement solution integrates into family office daily operations.

Finance: draft 13-week cash view by Friday.

Northern Trust Corporation (NTRS) - Canvas Business Model: Customer Relationships

You're looking at how Northern Trust Corporation (NTRS) structures its direct interactions with clients, which is central to its high-net-worth and institutional service model. This is definitely relationship-driven, built on a fiduciary foundation.

Dedicated, high-touch relationship management for institutional clients is supported by the sheer scale of assets they oversee. As of September 30, 2025, Northern Trust Corporation had US$18.2 trillion in assets under custody/administration (AUC/A).

For personalized wealth advice, the structure involves specialized personnel. The Wealth Management business, which serves high-net-worth individuals and families, held $492.6 billion in assets under management (AUM) as of September 30, 2025. The investment platform serving these private clients is overseen by a national team of more than 200 portfolio managers.

Long-term, consultative partnerships are underpinned by the firm's heritage. Northern Trust has over 135 years of service to its clients. Trust, Investment and Other Servicing Fees for Wealth Management clients were $539.3 million in the third quarter of 2025.

Digital self-service and reporting are integrated alongside the human touch. The firm has received recognition as "Best Private Bank in the U.S. for Digital Wealth Planning" and "Best Private Bank in the U.S. for Digital Customer Experience" in 2025.

The overall service structure supports a global client base. Northern Trust Corporation employs more than 23,000 individuals across offices in 24 U.S. states and Washington, D.C., and 22 international locations as of mid-2025.

Here's a quick look at the scale of assets driving these relationships as of September 30, 2025:

Relationship Metric	Amount (as of September 30, 2025)
Total Assets Under Custody/Administration (AUC/A)	US$18.2 trillion
Total Assets Under Custody (AUC)	$14.43 trillion
Total Assets Under Management (AUM)	US$1.8 trillion
Wealth Management AUM	$492.6 billion
Wealth Management Servicing Fees (Q3 2025)	$539.3 million

The firm's approach to client service is evidenced by its operational structure and focus areas:

• Global presence includes offices across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region.
• The Wealth Management pre-tax margin was flat at 37.2% in the second quarter of 2025.
• The firm is recognized for its depth of expertise, having been named one of Fortune Magazine's "World's Most Admired Companies" in 2024.
• Client relationships are managed under a steadfast fiduciary heritage.
• The firm's strategy is centered on being the client's most trusted financial partner.

If onboarding for new, complex relationships takes longer than expected, client satisfaction scores could dip, so maintaining the efficiency of those 200+ portfolio managers is key.

Northern Trust Corporation (NTRS) - Canvas Business Model: Channels

The channels Northern Trust Corporation uses to reach its diverse client base-corporations, institutions, affluent families, and individuals-are a mix of high-touch personal service and sophisticated digital delivery.

Direct sales and relationship teams globally are central to the Wealth Management and Family Office segments. Northern Trust Wealth Management offers holistic services, including the recently launched Family Office Solutions, specifically designed for ultra-high-net-worth families with over $100 million in net worth. The investment engine supporting these private clients is led by a national team of more than 200 portfolio managers as of late 2025. The Asset Servicing segment also relies on relationship teams to serve institutional clients like corporate and public retirement funds, foundations, endowments, and sovereign wealth funds globally.

Physical offices in major financial centers (e.g., Chicago headquarters) anchor the global network. The head office remains at 50 S La Salle St, Chicago, Illinois, 60603. As of late 2024/early 2025, Northern Trust maintained a presence across 24 U.S. states and Washington, D.C., alongside 22 international locations across Canada, Europe, the Middle East, and the Asia-Pacific region. For instance, the Arizona offices house the fourth largest number of Northern Trust staff in the U.S.

Proprietary digital platforms for asset servicing and wealth reporting are a key differentiator. Northern Trust was recognized in 2025 for its proprietary technology, winning "Best Private Bank in the U.S. for Digital Customer Experience." This is underpinned by the transformed Goals Powered Solutions platform, which enables the wealthiest private clients to transact, analyze, and monitor investment performance in real time. The platform for investment and operations teams includes features such as:

• 40+ configurable reports.
• Accessible Excel plug-ins for data export.
• Support for tracking quantitative and qualitative time series data.
• Customizable views for due diligence processes.

Furthermore, Northern Trust is actively building a product store for digital assets, aiming to offer capabilities across asset classes as the regulatory environment evolves.

Investment management products distributed through sponsored funds and ETFs form a significant channel for the Asset Management business. As of June 30, 2025, Northern Trust Asset Management was entrusted with $1.3 trillion in assets under management. Distribution occurs through various vehicles, including separately managed accounts, bank common and collective funds, and ETFs. In August 2025, Northern Trust launched 11 new ETFs under the new Northern Trust ETFs brand. As of that date, the brand had 8 ETFs traded in U.S. markets, gathering total assets under management of $66.81M, with an average expense ratio of 0.16%.

The scale of assets flowing through these channels is substantial, reflecting the reach of Northern Trust Corporation's service delivery:

Metric	Value as of Latest Date	Date/Period End
Assets under Custody/Administration (AUC/A)	$18,068.3 billion	June 30, 2025
Assets under Management (AUM)	$1,697.7 billion	June 30, 2025
Wealth Management AUM	$469 billion	September 30, 2025
Asset Servicing AUC/A	$16.9 trillion	Q2 2025
Q2 2025 Net Income	$421.3 million	Q2 2025

The Investor relations website for public disclosures and earnings calls serves as the primary digital channel for communicating with public shareholders and analysts. For example, the Q2 2025 earnings call provided updates on key metrics, such as reporting diluted Earnings per Share of $2.13 and a Return on Average Common Equity of 14.2% for the quarter. The website facilitates access to filings, including the Proxy Statement for the 2025 Annual Meeting of Stockholders, which noted 195,697,744 shares of common stock outstanding as of January 31, 2025.

Northern Trust Corporation (NTRS) - Canvas Business Model: Customer Segments

You're looking at the core client base for Northern Trust Corporation as of late 2025, broken down by the two primary operating segments: Asset Servicing and Wealth Management.

The total client asset base across the firm as of September 30, 2025, stood at US$18.2 trillion in Assets Under Custody/Administration (AUC/A) and US$1.8 trillion in Assets Under Management (AUM).

Large institutional investors (pension funds, endowments, sovereign wealth funds)

These clients primarily fall under the Asset Servicing segment. As of June 30, 2025, the Asset Servicing segment held $13,056.5 billion in AUC/A. Trust, Investment and Other Servicing Fees for this segment totaled $691.8 million in the second quarter of 2025.

Ultra-High-Net-Worth (UHNW) individuals and families

These clients are the focus of the Wealth Management segment. As of September 30, 2025, Northern Trust Wealth Management reported $492.6 billion in assets under management. Trust, Investment and Other Servicing Fees for Wealth Management clients were $539.3 million in the second quarter of 2025.

Global Family Offices (GFOs) and privately-held businesses

These groups are served by the Wealth Management business. A survey of Northern Trust's business owner clients conducted in the third quarter of 2024 revealed that respondents were considering large-scale changes in 2025, with plans including evaluating new areas to grow their business (30% of younger respondents) or acquiring a new business (28% of younger respondents). The survey itself involved 123 business owners.

Fund managers and insurance companies requiring asset servicing

These institutional clients are key users of the Asset Servicing segment. The Asset Servicing segment's Assets Under Management (AUM) were $1.2 trillion as of June 30, 2025. Investment management fees within Asset Servicing were $157 million in Q2 2025.

Corporate and public retirement funds

These funds are explicitly mentioned as clients of the Asset Servicing segment. The Asset Servicing segment's AUC/A was $13,056.5 billion at the end of Q2 2025.

Here's a quick look at the asset scale by segment as of mid-2025:

Segment	Client Asset Metric	Amount (as of latest report)
Asset Servicing	Assets Under Custody/Administration (AUC/A)	$13,056.5 billion (June 30, 2025)
Asset Servicing	Assets Under Management (AUM)	$1.2 trillion (June 30, 2025)
Wealth Management	Assets Under Management (AUM)	$492.6 billion (September 30, 2025)

The Wealth Management business employs a national team of more than 200 portfolio managers to serve its private clients.

The firm has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations internationally as of late 2025.

• Large institutional investors surveyed by Northern Trust in their 2025 peer study had portfolios ranging from $1 billion to over $500 billion.
• 86% of surveyed asset owners invest in private markets.
• 68% of surveyed asset owners invest in hedge funds, absolute return investments, and other diversifiers.

Northern Trust Corporation (NTRS) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Northern Trust Corporation's operations as of late 2025. Honestly, for a firm this size, the cost structure is dominated by people and technology, which is typical for a global financial services provider.

Significant personnel and compensation expenses for global staff form the largest component of noninterest expense. Employee Benefits, which is a proxy for compensation and related costs, was reported at $644.4 million for the first quarter of 2025. This figure reflects the cost of maintaining a global staff across its offices in 24 U.S. states and 22 international locations. The company is focused on expense discipline; for instance, in Q1 2025, Noninterest Expense was $1,417.6 million, up only 4% year-over-year, even as trust fees grew mid-single digits.

High investment in technology is a non-negotiable cost. For the first quarter of 2025, Northern Trust Corporation reported Equipment and Software expenses of $280.9 million. While the specific year-over-year increase of 11% mentioned in your outline isn't explicitly confirmed in the latest filings, the absolute spend shows technology remains a major outlay. This supports their global platforms for asset servicing and wealth management.

Regulatory compliance and risk management costs are embedded within general operating expenses and specific charges. For the nine months ending September 30, 2025, Other Operating Expense decreased partly because the prior-year period included a $14.7 million expense related to the FDIC special assessment, which is a direct regulatory cost. Outside Services, another component of operating costs, stood at $109.7 million in Q1 2025.

General operating expenses for a global office footprint cover everything from occupancy to professional services. Total Noninterest Expense for Q3 2025 was $1,422.9 million, representing a 5% increase compared to Q3 2024. This covers the cost of maintaining that global presence. Here's the quick math: the expense-to-trust fee ratio was 115% in Q1 2025, showing they are working toward their long-term goal of 105-110%.

Interest expense on deposits and borrowings is a significant variable cost, tied directly to the interest rate environment and the firm's funding mix. For the first quarter of 2025, Northern Trust Corporation reported total Interest Expense of $2,146.5 million. That was down 8% from the fourth quarter of 2024 and down 12% from the first quarter of 2024, reflecting lower funding costs that quarter. As of Q2 2025, Total Interest-Bearing Liabilities were $122,575.2 million.

You can see the key expense components from the first quarter of 2025 below. What this estimate hides is the exact split between compliance staff salaries versus general administrative staff, but the categories give you the main buckets.

Expense Category (Q1 2025, $ in Millions)	Amount	Y/Y Change (vs Q1 2024)
Total Noninterest Expense	1,417.6	4% increase
Employee Benefits	644.4	8% increase
Equipment and Software	280.9	Data not specified in search
Outside Services	109.7	Data not specified in search
Total Interest Expense (Q1 2025)	2,146.5	(12)% decrease

The firm is definitely managing these costs actively. Finance: draft 13-week cash view by Friday.

Northern Trust Corporation (NTRS) - Canvas Business Model: Revenue Streams

You're looking at how Northern Trust Corporation brings in its money, which is heavily weighted toward fees for managing and safeguarding assets. The revenue streams are quite clear, built on servicing clients across Asset Servicing and Wealth Management.

The largest component remains the fees derived from client assets. For the third quarter of 2025, Total Consolidated Trust, Investment and Other Servicing Fees hit $1,265.5 million. This is a critical, sticky revenue source, directly tied to market performance and asset retention.

Banking activities provide a solid floor for earnings through interest income. Net Interest Income (NII), calculated on a fully taxable equivalent (FTE) basis, was reported at $596.3 million for Q3 2025. This figure reflected a sequential decline of 3% from Q2 2025 as deposits normalized, but it was still up 5% compared to Q3 2024 on an FTE basis.

Capital markets activities contribute meaningfully, especially given the firm's strategic focus on these areas. Specifically, Foreign Exchange (FX) trading income for Q3 2025 was $57.2 million. This was up 6% year-over-year, showing momentum in currency management services.

Here's a breakdown of the key fee-based revenue drivers for the third quarter of 2025:

Revenue Component	Q3 2025 Amount (Millions USD)	Year-over-Year Change
Total Consolidated Trust, Investment and Other Servicing Fees	$1,265.5	6%
Asset Servicing Investment Management Fees	$159.6	Not explicitly stated, but Asset Servicing Fees were up 6%
Wealth Management Trust, Investment and Other Servicing Fees	$558.6	5%
Foreign Exchange Trading Income	$57.2	6%
Security Commissions and Trading Income	$41.8	18%

The fees tied to Assets Under Management (AUM) are segmented across the two main operating units. You can see the direct link between client assets and fee generation in the components of the total servicing fees. The Asset Servicing segment saw its Investment Management fees reach $159.6 million. Meanwhile, the Wealth Management side generated $558.6 million in its Trust, Investment and Other Servicing Fees.

When you look at the capital markets area, the growth in commissions is notable. Management highlighted stronger capital markets activities, which included both FX trading income and other components. Security Commissions and Trading Income specifically grew 18% year-over-year, reaching $41.8 million in the quarter. This success is attributed to new client wins in outsourced trading and currency management services.

The revenue streams also include:

• Custody and fund administration fees within Asset Servicing, totaling $482.7 million in Q3 2025.
• Securities lending revenue, which is a component of the capital markets strength mentioned.
• Other Noninterest Income, which was $169.1 million in Q3 2025.

As of September 30, 2025, Northern Trust Corporation reported $1.8 trillion in total Assets Under Management (AUM), which underpins the advisory fee structure. The Asset Servicing AUM was $1.2801 trillion, and Wealth Management AUM was $493 billion (or $0.493 trillion) at quarter end.

Finance: draft a sensitivity analysis on the $1,265.5 million fee revenue to a 5% market downturn by next Tuesday.