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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Northern Trust Corporation    NTRS

NORTHERN TRUST CORPORATION

(NTRS)
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Northern Trust : Adds Relationship Management and Client Service Leaders to Middle East and Africa Executive Team

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09/28/2020 | 01:01am EDT

Appointments Support Business Growth, Expand Local Service and Solutions Expertise

Northern Trust (Nasdaq: NTRS) today announces it has made two senior appointments to its Middle East and Africa asset servicing business. The new positions, based in Abu Dhabi, United Arab Emirates, support Northern Trust’s continued business growth across the region, and follow the expansion of its senior management team in Saudi Arabia, announced earlier this month.

Justin Miller has been appointed head of relationship management for the Middle East and Africa and is responsible for the oversight and strategic development of asset servicing relationships for Northern Trust in the region. Miller leads a team of relationship managers providing asset servicing, capital markets, liquidity and data solutions in support of Northern Trust’s clients’ investment strategies.

Miller has 18 years’ experience working in the asset servicing industry and has spent 12 years working with clients across the Middle East and Africa in roles at Northern Trust.

He takes up his new position after more than three years as Northern Trust’s head of client management for securities lending for Europe, the Middle East and Africa, helping clients optimize investment returns. Prior to that, Miller worked in Northern Trust’s securities lending business as a senior relationship manager.

Chris Dulieu has been appointed Northern Trust’s head of client service for the Middle East and Africa. Dulieu’s new role is focused on overseeing clients’ custodial, investment accounting, performance and reporting services.

Dulieu has worked in asset servicing for 17 years, of which 13 have been spent at Northern Trust. He joins the Middle East and Africa team from his previous role as a senior relationship manager responsible for servicing pension fund clients in the United Kingdom. He has also worked extensively with multinational funds, insurance companies and in-house managed asset owners.

Michael Slater, head of Middle East and Africa at Northern Trust comments: “As our clients’ strategies evolve to meet the opportunities and challenges of the market, they require services delivered in their working week and time zone. Expanding the breadth and depth of local expertise for our clients across the Middle East and Africa through these appointments reflects our commitment to anticipating and meeting their evolving requirements.”

Northern Trust began servicing clients in the Middle East in 1987 and has seen significant growth across its regional business. It has 29 staff in Abu Dhabi and Riyadh, Saudi Arabia – and has more than doubled this team over three years. The team provides a comprehensive range of solutions to a broad base of clients that include many of the largest sovereign wealth funds, central banks, inter-governmental/governmental organisations, asset managers and family offices in the region.

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 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2020, Northern Trust had assets under custody/administration of US $12.1 trillion, and assets under management of US $1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

The Company operates in the Kingdom of Saudi Arabia under Commercial Registration No. 1010366439 issued on 22/04/1434H (corresponding to 04/03/2013G) by the Saudi Arabian Ministry of Commerce and Industry. Authorised by the Capital Market Authority on 12 September 2012 and commencement date as of 12 September 2013 to conduct Security Business (Managing – Advisory & Custody) License Number # 12163-26

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© Business Wire 2020

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Financials (USD)
Sales 2020 6 087 M - -
Net income 2020 1 205 M - -
Net Debt 2020 9 408 M - -
P/E ratio 2020 14,7x
Yield 2020 3,28%
Capitalization 17 773 M 17 773 M -
EV / Sales 2020 4,47x
EV / Sales 2021 4,64x
Nbr of Employees 19 800
Free-Float 84,3%
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Mean consensus HOLD
Number of Analysts 18
Average target price 86,29 $
Last Close Price 85,41 $
Spread / Highest target 11,2%
Spread / Average Target 1,04%
Spread / Lowest Target -14,5%
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Managers
NameTitle
Michael G. O'Grady Chairman, President & Chief Executive Officer
Jason J. Tyler Chief Financial Officer & Executive Vice President
Thomas A. South Chief Information Officer & Executive VP
Susan M. Crown Independent Director
Charles A. Tribbett Independent Director
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