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

CHICAGO , May 25 /Businesswire/ - As part of its long-standing commitment to ensuring diversity, equity and inclusion within the investment industry, Northern Trust Asset Management (NTAM) seeks requests for information from broker-dealers owned by minorities, women, veterans or people with disabilities – to provide trade execution services. Responses are due by Friday, July 29, at 5:00 PM CT.

Last year, as part of the Program, NTAM increased from 10% to 15% its target for all equity security trading commissions regarding its common and collective funds. A target has been in place since 2018 and has consistently been met or exceeded, including 18% this past year.

“Diversity is fundamental to how we invest and to how we execute our entire business,” said Chief Investment Officer Angelo Manioudakis. “We have seen in our own firm that different perspectives aid innovation and enhance business operations overall. So, to best serve our clients, it’s only natural that we seek to partner with external partners that bring such diversity of thought.”

NTAM will host a Bidder’s Forum at its 50 South LaSalle Street headquarters in Chicago on Tuesday, June 21, 3:30 CT, to provide applicants with additional insight into the selection process. Firms interested in attending should respond through this RSVP link.

In addition to considering ownership structure, NTAM evaluates broker-dealers on rigorous requirements for execution, technology, compliance and performance. The firm expects to announce the selected broker-dealers in the fourth quarter of this year.

NTAM 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 $5.1 billion with 22 minority-owned investment-management firms through manager-of-manager programs as of December 31, 2021. Minority-owned firms that provide equity research are also part of the Minority Brokerage Program.

In keeping with the firm’s history of diversity leadership, NTAM has been named a Diversity Champion by InvestmentNews in four of the five years that the leading financial advisor trade publication has presented its Diversity, Equity and Inclusion (DE&I) Awards. As part of the Awards in 2021, NTAM president Shundrawn Thomas was honored for Lifetime Achievement in advancing DE&I. Overall, Northern Trust has been consistently ranked among the “Best Employers for Diversity” by Forbes.

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 realize their long-term objectives. Entrusted with US$1.2 trillion of investor assets as of March 31, 2022, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that deliver targeted investment outcomes. As engaged 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 composed of 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., 50 South Capital Advisors, LLC, Belvedere Advisors LLC 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 23 U.S. states and Washington, D.C., and across 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 more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

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

STORY TAGS: United States, North America, Product/Service, Event, Illinois, Consulting, Banking, Professional Services, Finance,


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