Chicago-based Northern Trust Corp., which has an office in downtown Milwaukee, reported third quarter net income of $170 million, or 70 cents a share, up from $155.6 million, or 64 cents, in the same period a year ago.
The company’s quarterly performance exceeded analysts’ expectations.
Frederick Waddell, chairman and chief executive officer, said, "Our third quarter results reflect strong earnings growth despite the persistent challenges of a difficult global economic environment. New business, across the company, was excellent as was our continued focus on the balance between revenue and expense growth. Our balance sheet strength continued to position Northern Trust distinctively with our clients amidst a challenging environment."
