Northern Trust also said that custody and fund administration fees increased 6% to $159.2 million, reflecting new business and improved markets.
“Although the economic environment continues to be challenging, we are pleased that assets under custody increased by 10% to $3.9 trillion and assets under management increased 8% to $675.2 billion as compared to a year ago, reflecting continued business growth,” said Frederick H. Waddell, chairman and chief executive officer.
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In the first three months of 2024, both profits and client assets reached new heights at RayJay's Private Client Group.
