Northern Trust Corp reported total assets under management of $924.4 billion for the quarter ending June 30, a 1% increase from the previous quarter but up 15% from a year earlier.
Corporate and institutional assets under management of $701.5 billion as of June 30 were up less than 1% from the previous quarter, but up 17% from a year earlier.
The bank’s corporate and institutional assets under custody totaled $5.48 trillion as of June 30, up 5% from three months earlier and 21% from a year earlier.
The company also announced it was shedding 200 jobs from its workforce of more than 15,000. It said cuts would occur throughout the bank’s operations but did not break down numbers for asset management or asset servicing.
