An incomplete quote from John O’Connell, institutional public relations director-Americas at Northern Trust, was published in the Oct. 27 P&I Daily article on Northern Trust receiving $1.5 billion in capital from the Treasury Department’s TARP program.
The full quote is: “Obviously, it’s too soon to say specifically (what Northern will do with the new capital), but in general we will do what we normally do: maintain a very strong capital base relative to regulatory guidelines and the industry, and use our balance sheet to support the business activities of our clients, Mr. O’Connell said.
