Financial services company
Northern Trust, a Chicago-based provider of private banking, custody services and asset management, is attempting to cut its costs in a harsh enviornment for the financial services industry.
The firm recently sold its Atlanta retirement consulting business to
A recent statement from Northern Trust spokeswoman Sue Rageas confirmed that more positions outside of those already mentioned will be eliminated. However, Rageas declined to reveal which areas of the business these cuts will take place.
Analysts monitoring the industry stated they do not expect the Northern Trust cuts to be as extensive as those of Boston-based
Northern Trusts first quarter earnings are 25% lower than just a year ago.