Northern Trust Corp. reported $886.8 billion in assets under management as of Sept. 30, down 6% from three months earlier, and down 4% from a year prior, its third-quarter earnings report said Wednesday.
Corporate and institutional assets under management totaled $661.5 billion, down 7% from the end of the previous quarter, and down 6% from Sept. 30, 2014.
The bank's corporate and institutional assets under custody were $5.956 trillion as of Sept. 30, down 4% from three months earlier but up 1% from a year earlier.
Northern Trust also reported $82.6 million in investment management fees for the second quarter, up 2% from the second quarter and up 10% from the third quarter of 2014.
Net income for the company was $234.6 million for the third quarter, down 12.8% from the second quarter but up 14.7% from the third quarter of 2014. Total third-quarter revenue, meanwhile, was $1.156 billion, down 8% from the second quarter and up 7.1% from the year-earlier quarter.
