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Northern Trust Press Release


Northern Trust Asset Management Seeks Minority-Owned Broker-Dealers as Part of Diversity Commitment

CHICAGO, April 15, 2019 —

As part of its ongoing commitment to ensuring diversity and inclusion within the investment industry, Northern Trust Asset Management seeks requests for information — from broker-dealers owned by minorities, women, veterans or people with disabilities — to provide trade execution services.

The firm’s minority-owned brokerage program, which last year set a target to execute 10% of all equity security trading commissions in common and collective funds with minority brokers, represents Northern Trust Asset Management’s ongoing commitment to advancing diversity and inclusion in the workplace.

As one of the world's largest investment managers1, Northern Trust Asset Management has directed one-third more trading volume to minority brokers than its peers, according to a 2016 third-party study2 it commissioned.

“Diversity is foundational not only to how we do business, but to how we invest,” said Chief Investment Officer Bob Browne, CFA. “Our ability to deliver innovative ideas and exceed client expectations depends on intellectual curiosity and diversity of thought, experience and perspective.”

Northern Trust Asset Management will host a public forum in Chicago on April 23 from 3:30 p.m. to 5 p.m. Central Time to provide applicants with additional insight into the selection process. Firms interested in attending should respond through this RSVP link.

All requests for information responses are due by 5 p.m. Central Time on May 31, 2019.

In addition to considering ownership structure, Northern Trust Asset Management evaluates broker-dealers on rigorous requirements for execution, technology, compliance and performance. The firm expects to announce the selected broker-dealers in the third quarter.

Northern Trust Asset Management has been cultivating relationships with minority-owned investment management firms and brokerages for more than a decade. The firm’s commitment to diversity also includes its multi-manager solutions business, which invested approximately $4.2 billion with 17 minority-owned investment-management firms through manager-of-manager programs as of December 31, 2018. Last year, the firm enhanced the minority brokerage program with an ongoing commitment to hire minority owned firms that provide equity research to help inform the firm’s investment decisions.

In keeping with the firm’s history of diversity leadership, Northern Trust Asset Management was recently named a Diversity Champion by Investment News. Overall, Northern Trust has been ranked among the “Best Employers for Diversity” by Forbes.

About Northern Trust Asset Management
Northern Trust Asset Management is a leading global asset management firm serving institutional and individual investors in 29 countries. Our robust investment capabilities span all markets and asset classes, from passive and risk-factor to fundamental active, multi-asset class and multi-manager strategies, delivered in multiple vehicles. As of December 31, 2018, assets under management were $885.3 billion. For more information, please visit our website or follow us on Twitter @NTInvest.

Northern Trust Asset Management comprises Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc. and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2018, Northern Trust had assets under custody/administration of US$10.1 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at

116th largest asset manager. The ranking is not indicative of future performance. It is based on total worldwide assets under management of $961 billion as of December 31, 2017, by Pensions & Investments magazine's 2018 Special Report on the Largest Money Managers.

2"Northern Trust Minority Brokerage Analysis," May 2016 (Abel/Noser)