NORTHERN TRUST Business Summary

Northern Trust Corporation (Nasdaq: NTRS) is a leading global provider of asset servicing, wealth management, and asset management solutions, primarily serving corporations, institutional investors, and ultra-high-net-worth individuals. The company generates revenue through a combination of asset-based trust and investment fees, transaction-related service charges, and net interest income derived from its banking operations. As of December 31, 2025, the firm reported approximately $18.7 trillion in assets under custody/administration and $1.8 trillion in assets under management. Northern Trust operates through three primary segments: Asset Servicing, which provides global custody and fund administration; Wealth Management, offering private banking and advisory; and Northern Trust Asset Management (NTAM). In a competitive landscape dominated by scale-driven giants like BNY Mellon, State Street, and JPMorgan Chase, Northern Trust distinguishes itself as a high-touch specialist, maintaining a premium market position focused on complex fiduciary requirements and bespoke client service. Founded in 1889 by Byron Laflin Smith, Northern Trust is currently led by Chairman and CEO Michael G. O’Grady, who has steered the firm’s "One Northern Trust" strategy to optimize operational efficiency. The executive leadership team includes David W. Fox, Jr. as Chief Financial Officer, Peter B. Cherecwich as Chief Operating Officer, and Jason J. Tyler as President of Wealth Management. Recent 2026 organizational shifts saw Clive Bellows and Guy Gibson appointed as Co-Presidents of Asset Servicing, while Melanie Pickett assumed the newly created role of Chief Transformation Officer to drive firmwide innovation. The technical roadmap is overseen by Chief Information Officer Thomas South and Chief Technology Officer Vijay Luthra. The company’s Board of Directors features notable industry veterans, including Lead Independent Director Jay L. Henderson and recently appointed members Robert Moritz, former Global Chairman of PwC, and Richard Petrino, a former senior executive at American Express.