Northern Trust announced that it has won more than 100 new institutional mandates, bringing an additional $385 billion in assets under custody as of November 30, 2025. The new business spans pensions, endowments and other institutional asset owners across North America, EMEA and Asia‑Pacific, underscoring the firm’s ability to attract large, diversified clients.
The growth is driven by Northern Trust’s focus on high‑margin asset‑servicing solutions. The company’s regulatory‑reporting, middle‑office, collateral and liquidity‑management platforms were highlighted as key differentiators that helped secure the mandates. By expanding its high‑margin portfolio, Northern Trust positions itself to capture a larger share of fee income in a market where institutional investors increasingly demand operational excellence and technology‑enabled services.
Melanie Pickett, Head of Asset Servicing Americas, said the firm’s client‑centric approach is central to its success: “We build relationships, not just deliver products. Our client experience model gives asset owners direct access to specialists and consistent service delivery, fueling innovation and creating solutions that truly meet their needs.” James Wright, Head of Asset Owners for EMEA, added that the firm’s technology investments are “driving greater efficiency, transparency and performance for global, multi‑asset portfolios.”
These wins represent a significant growth opportunity for Northern Trust. While the announcement does not quantify the exact impact on revenue or profitability, the addition of $385 billion in custody assets is expected to boost fee income and reinforce the firm’s competitive position in the institutional custody market. The focus on relationship‑driven service and technology‑enabled solutions signals a continued strategy of organic growth and operational efficiency.
The announcement aligns with Northern Trust’s broader strategy of deepening relationships with institutional asset owners and expanding its high‑margin asset‑servicing portfolio. By securing large mandates across multiple regions, the firm demonstrates its ability to compete effectively against other global custodians and to leverage its technology platforms to meet evolving client demands.
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