Northern Trust

“All cultures have two forms of capital, performance capital and relational capital, but Northern Trust as an organization is a highly relational culture.”

“I know that people of good intent and goodwill will say things like I'm colorblind. And I know what they mean by that, but the reality is we're not really colorblind. At our best, we actually, if we want to use the term color, we need to be color aware, becaus…”

“So we have north of four hundred and fifty billion on the platform now. We launched about three and a half years ago.”

“What we see is clients who do that tend to realize, just like their investment partners, they don't want hundreds of investment managers, right? They want stronger, deeper relationships with fewer investment managers. The same thing is happening on the service…”

“In my prior life, we received 30,000 plus communications from managers on an annual basis.”

“While custody and safekeeping is really important, it's a big, beautiful business for Northern. [1523] Melanie Pickett: It's highly commoditized and pricing pressure is significant and growing by the day.”

“We're taking two systems at Northern Trust. One, the front office solution system, which does have an incredible data model around alternatives, and combining that with the power of a system that we bought called Omnium, which we bought from Citadel.”

“Allocators kept getting Investment manager hand-me-downs, or they kept getting in bed with firms that would really service their asset manager clients before them.”

“To this day, we've still never made a cold call to try to get business into front office solutions. [1565] Melanie Pickett: We've had to gate our onboardings every single year. [1568] Melanie Pickett: We've had to gate client demand because we've had so much d…”

“It's about half of Northern's assets under custody at large, and it's about 20% of the bank's revenue, so it's a really big, important business for Northern.”

“Really our second client was one of the world's largest family offices... We weren't converting off of other systems as much as trying to build the history of their book, and we did that north of a hundred billion in assets and did that for all the family memb…”

“We've completed an effort to completely roboticize using Python and robotics, going out and getting the documents off the portals and pulling them into our systems automatically.”

“I mean, we got to the point of our 1.3 trillion at the time in assets, we had a hundred and seventy billion just dedicated. To a different sustainable investing strategies.”