Press release
Northern Trust Asset Management Increases Use of Minority Brokers
Raises Trade Execution Target CHICAGO--(BUSINESS WIRE)-- As part of its ongoing commitment to ensuring and advancing diversity, equity and inclusion within
About this update from Northern Trust Corporation
[{"type":"text","content":"\nRaises Trade Execution Target\n\n CHICAGO--(BUSINESS WIRE)--\nAs part of its ongoing commitment to ensuring and advancing diversity, equity and inclusion within the investment industry, Northern Trust Asset Management (NTAM) is increasing its trade execution services commitment to broker-dealers owned by minorities, women, veterans or people with disabilities. The execution target for its Minority Brokerage Program is increasing in March from 10 percent to 15 percent of equity security trading commissions in certain commingled funds, while continuing to meet our best execution standards.\n\nNTAM started its Minority Brokerage Program in 2007 and in 2018 instituted a 10 percent trading target that the participating funds have consistently met or exceeded.\n\n“As one of the world's largest investment managers[1], we founded the program over a decade ago because we recognized both the impact we can have to advance diversity within the industry and that partnering with diverse organizations can lead to better outcomes,” Northern Trust Asset Management President Shundrawn Thomas said. “Empirical data has long shown that top-performing companies, regardless of industry, are those that excel on cultural, ethnic and gender diversity. This shouldn’t surprise anyone, as it’s only logical that diversity strengthens culture and increases creativity and innovation—all key ingredients to success.”\n\nInvestors have been increasingly looking to partner with asset managers that share a commitment to diversity, equity, and inclusion. The pandemic has led investors to focus even more on doing so, as inequities and other social ills have come into sharp view.\n\n“We are delighted that our Minority Brokerage Program provides clients with a proven means to have a significant percentage of their assets aligned with firms owned by minorities, women, veterans or people with disabilities,” said Chief Investment Officer Bob Browne. “And from an even larger perspective, we take pride in the fact that clients understand that the program is just one part of our long-standing commitment to diversity, equity and inclusion.” A recent acknowledgement of this commitment is Northern Trust Asset Management being named a Diversity Champion by InvestmentNews magazine last year for the second time in the last three.\n\nNorthern Trust Asset Management has been culti...