CHICAGO–(BUSINESS WIRE)–As part of its long-standing commitment to ensuring diversity, equity and inclusion within the investment industry, Northern Trust Asset Management (NTAM) is inviting inquiries from brokers belonging to minorities, women, veterans or people with disabilities – to provide business fulfillment services. Responses are expected no later than Friday, July 29 at 5:00 p.m. CT.
Last year, as part of the program, NTAM increased its target for all equity trading commissions for its mutual and collective funds from 10% to 15%. A target has been in place since 2018 and has been consistently met or exceeded, including 18% last year.
“Diversity is fundamental to how we invest and how we run all of our businesses,” said Angelo Manioudakis, Chief Investment Officer. “We’ve seen in our own business that different perspectives drive innovation and improve overall business operations. So, to better serve our customers, it is only natural that we seek to partner with external partners who bring such a diversity of thought.
NTAM will host a bidders forum at its headquarters at 50 South LaSalle Street in Chicago on Tuesday, June 21 at 3:30 p.m. to provide applicants with additional insight into the selection process. Companies interested in participating should respond via this RSVP link.
In addition to considering ownership structure, NTAM evaluates brokers against rigorous execution, technology, compliance and performance requirements. The company plans to announce the selected brokers during the fourth quarter of this year.
NTAM has had relationships with minority-owned investment management firms and brokerages for over a decade. The firm’s commitment to diversity also includes its multi-manager solutions business, which has invested approximately $5.1 billion in 22 minority-owned investment management firms through multi-manager management programs. managers as of December 31, 2021. Minority-owned businesses that provide equity research are also part of the minority brokerage program.
In keeping with the firm’s history of diversity leadership, NTAM was named a Diversity Champion by Investment News in four of the five years the leading trade publication for financial advisors has presented its Diversity, Equity and Inclusion (DE&I) awards. As part of the awards in 2021, NTAM President Shundrawn Thomas was honored for his lifetime achievement in advancing DE&I. Overall, Northern Trust has consistently been ranked among Forbes’ “Best Diversity Employers”.
About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments, so they can confidently achieve their long-term goals. As of March 31, 2022, we have entrusted US$1.2 trillion of investor assets, we understand that investing ultimately serves a greater purpose and believe that investors should be compensated for the risks that they take – in all market environments and all investment strategies. That’s why we combine sound capital markets research, expert portfolio construction and comprehensive risk management to design innovative and effective solutions that deliver targeted investment results. As committed contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.
Northern Trust Asset Management is comprised of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, KK, NT Global Advisors, Inc., 50 South Capital Advisors, LLC , Belvedere Advisors LLC and the investment staff 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 services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 23 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion and assets under management of US$1.5 trillion. For over 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Visit us at northtrust.com. follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Global legal and regulatory information can be found at https://www.northerntrust.com/terms -and-conditions.