Northern Trust Corporation (NASDAQ:NTRS) Barclays 23rd Annual Global Financial Services Conference September 9, 2025 4:15 PM EDT
Company Participants
Peter Cherecwich – Executive VP & COO
David Fox – Executive VP & CFO
Conference Call Participants
Jason Goldberg – Barclays Bank PLC, Research Division
Presentation
Jason Goldberg
MD & Senior Equity Analyst
Thank you. Wrapping up what so far has been a very successful Global Financial Services Conference for day 2. Very pleased to have Northern Trust with us like we’ve asked for all the companies, the first ARS questions on the screen. From the company, very pleased to have Dave Fox, Chief Financial Officer; Pete Cherecwich, Chief Operating Officer. And it’s interesting. A year ago, I think it was tomorrow, we had Jason Tyler on stage, and Northern came out with a number of leadership changes, including both of you. Dave, you were sitting in the front row then, little do we know that you’ll be up here today as Chief Financial Officer. Prior you’re running the Global Family Office business. Pete, you were running Asset Servicing. Now you’re Chief Operating Officer.
Question-and-Answer Session
Jason Goldberg
Barclays Bank PLC, Research Division
So maybe, Pete, maybe we’ll start with you. This Chief Operating Officer role was a newly created role. At the time, the release said you’re going to focus on ensuring operational excellence and resiliency, effective risk management and controls and scalable growth. It sounds like all important stuff. Just maybe talk to you about what you’ve been up to specifically and just how that’s translating into dollars and cents.
Peter Cherecwich
Executive VP & COO
All right. So first, let me just talk about dollars and cents because that’s the most important, I think, to everybody here. In 2025, we will achieve $200 million in productivity. And next year, that number will be higher. And more importantly to
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