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Driven by solid gains in both interest and noninterest income, Northern Trust Corp. in Chicago reported a profit of $234.6 million in the third quarter, up 15% from the same period in 2014. Earnings per share climbed 14%, to 96 cents, in line with the estimates of analysts polled by Bloomberg.
October 21 -
The first female COO in Northern Trust's history has worked there for her entire 35-year career, rising through the management ranks by taking roles outside of her comfort zone. Now she's on the short list of potential successors to CEO Rick Waddell.
September 22 -
Bank of New York Mellon has agreed to pay $14.8 million to settle Securities and Exchange Commission allegations that it used its internship program to violate the Foreign Corrupt Practices Act.
August 18
Northern Trust in Chicago has agreed to acquire Aviate Global, an institutional equity brokerage firm in the U.K.
Financial details of the transaction were not disclosed. The merger is expected to close in the first quarter of 2016, according to a Wednesday news release.
The deal will help the $120 billion-asset Northern Trust expand its global brokerage capabilities, as Aviate holds licenses in Europe, the Middle East, Africa and the Asia-Pacific. Aviate, in London, provides market research, trading and execution services.
The custodial bank Northern Trust offers brokerage services in two of its business divisions: corporate and institutional services and wealth management.
