• Home
  • Admin/Tech
  • Benefits
  • Buzz
  • DB
  • DC
  • Diversity
  • Investment
  • Law & regulation
  • Risk reduction
  • Events
  • Whitepapers
  • ESG spotlight
  • PPTV
  • Newsletters
  • Sign in
  • Events
    • Upcoming events
      event logo
      Risk Reduction Forum 2019

      The Risk Reduction Forum seeks to arm trustees and scheme professionals with practical insights around best practice, and takeaways they can apply to their own scheme

      • Date: 14 Mar 2019
      • Radisson Blu Bloomsbury, London
      event logo
      Rising Star Awards 2019

      Professional Pensions has launched its inaugural Rising Stars Awards to celebrate the emerging talent in pensions

      • Date: 27 Mar 2019
      • Proud Embankment, London
      event logo
      Defined Contribution Conference 2019

      This exclusive one day conference will provide a comprehensive overview of the evolving DC landscape, and examine how Trustees and Pension Scheme Managers can overcome the challenges they face

      • Date: 24 Apr 2019
      • The Bloomsbury Hotel, 16-22 Great Russell St, London WC1B 3NN, London
      event logo
      UK Pensions Awards 2019

      Make a date in your diary. These awards are the single largest gathering and a veritable 'who's who' of the corporate pensions industry in the UK.

      • Date: 23 May 2019
      • Hilton Park Lane 22 Park Lane, Mayfair, London W1K 1BE, London
      View all events
      Follow our Professional Pension Events

      Sign up to receive email alerts about our events

      Sign up
  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

      Download
      Find whitepapers
      Search by title or subject area
      View all whitepapers
  • ESG spotlight
  • Sign in
    •  

      You are currently accessing ProfessionalPensions via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
    • YouTube
  • Register
  • Subscribe
Professional Pensions
Professional Pensions
  • Home
  • Admin/Tech
  • Benefits
  • Buzz
  • DB
  • DC
  • Diversity
  • Investment
  • Law & regulation
  • Risk reduction
  •  

    You are currently accessing ProfessionalPensions via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Professional Pensions
  • US

Northern Trust reports strong Q2

magnifineglass-data2-small-jpg
  • Andrew Sheen
  • 17 July 2008
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
0 Comments

US - Asset manager Northern Trust has released its Q2 results, which showed a 24% rise in revenues over the same period last year.

Second quarter earnings rose to $1.09bn, while net income was $215.9m, up from $206.9m in Q2 2007.

Frederick H. Waddell, president and CEO, Northern Trust, said: "Northern Trust reported very strong core results in the second quarter - including 24% revenue growth - against the combined backdrop of challenging market conditions.

"[Our] success in this difficult market environment reflects or long standing client focused business strategy, position of capital strength and conservative management philosophy."

Northern Trust's trust, investment and other servicing fees rose 21% to $645.1m and represented over half (59%) of the company's earnings in the quarter.

Fees and other income from Corporate & Institutional Services (C&IS) were up almost a third (32%) over the same period last year to $409.2m.

Assets under custody in the C&IS division totalled $3.6trn, down 1% from last year, and assets under management in the same area fell 2% to $608.6bn.

Despite the global equities downturn, strong earnings were had in securities lending, which returned a record 149.9% - an increase of 104% over the same period in 2007.

Northern Trust said this performance was due to improved spreads and a partial recovery of unrealised losses in a previous period. Asset management fees rose 1% to $71.8m, which the company said was favourable given the market conditions.

Related articles

  • People Moves Blog: Mercer creates DB consolidation advisory team; Salvus appoints Parr as trustee
  • Savers are ultimately responsible for their own decisions, says industry
  • GMP equalisation could land DB members with six figure tax bill
  • Five stories you may have missed this week
  • RBS reports £100m GMP impact; slashes equity exposure by two thirds
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • US

Latest stories

Pension Appointments Blog
People Moves Blog: Mercer creates DB consolidation advisory team; Salvus appoints Parr as trustee

  • Appointments
  • 18 February 2019
Savers are ultimately responsible for their own decisions, says industry

Most people think it is right that savers take responsibility to protect from pension scams.

  • Industry
  • 18 February 2019
calculator
GMP equalisation could land DB members with six figure tax bill

More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.

  • Defined Benefit
  • 18 February 2019
alan pickering
Our politicians should help us simplify the system

Alan Pickering says politicians should have the freedom to redefine what is meant by 'absolute'

  • Law and Regulation
  • 18 February 2019
Back to Top

Most read

calculator
GMP equalisation could land DB members with six figure tax bill
Pension Appointments Blog
People Moves Blog: Mercer creates DB consolidation advisory team; Salvus appoints Parr as trustee
Rising Star Awards
Rising Star Awards 2019 - Shortlists published
alan pickering
Our politicians should help us simplify the system
Emerging market debt: A new hope
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Privacy and Cookie policy
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters
  • YouTube

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017