Press release
CORRECTING and REPLACING Northern Trust Asset Management Selects Eleven Firms for Minority Broker Program
CHICAGO--(BUSINESS WIRE)-- Please replace the release with the following corrected version due to an error in the bulleted list. The corrected release reads:
About this update from Northern Trust Corporation
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nPlease replace the release with the following corrected version due to an error in the bulleted list.\n\n\nThe corrected release reads:\n\n\nNORTHERN TRUST ASSET MANAGEMENT SELECTS ELEVEN FIRMS FOR MINORITY BROKER PROGRAM\n\n\nNorthern Trust Asset Management, consistent with its long-standing commitment to ensuring diversity and inclusion within the investment industry, has selected eleven minority-owned broker-dealers for its Minority Broker Program. Started in 2007, the program consists of firms owned by minorities, women, and disabled veterans.\n\n\nEach firm was selected for one or more asset classes, based on quantitative and qualitative selection criteria including execution capabilities, technology platforms and performance. The selected firms include:\n\n\n\nAcademy Securities, Inc.\n\n\nCabrera Capital Markets, LLC\n\n\nCastleOak Securities LP\n\n\nGuzman & Company\n\n\nLoop Capital Markets\n\n\nMischler Financial Group\n\n\nNorth South Capital\n\n\nPenserra Securities LLC\n\n\nSamuel A. Ramirez & Co., Inc.\n\n\nSiebert Cisneros Shank & Co. LLC\n\n\nWilliams Capital Group\n\n\n\n“We know that companies that excel on cultural, ethnic and gender diversity are among the top performers in their respective industries,” Northern Trust Asset Management President Shundrawn Thomas said. “This quality leads to higher levels of engagement, increased innovation and greater profitability. It further promotes better business outcomes for all stakeholders, including clients. This is why Northern Trust is fully committed to deepening our partnership with firms owned by minorities, women, and disabled veterans.”\n\n\nThe firm has been cultivating relationships with minority-owned investment management firms and brokers for more than a decade. Its commitment to diversity is also part of its Multi-manager Solutions business which has invested approximately $4.2 billion1 with 17 minority-owned investment management firms through manager-of-manager programs as of December 31, 2018. Last year, the firm enhanced its Minority Broker Program with an ongoing commitment to hire minority-owned firms that provide equity research to help inform the firm’s investment decisions. Also in 2018, the firm set a target of 10% for trading commissions executed through minority brokers on equity securities in all of its collective...