CHICAGO--(BUSINESS WIRE)--Northern Trust Asset Management (NTAM), consistent with its long-standing commitment to ensuring diversity and inclusion within the investment industry, has selected 16 minority-owned broker-dealers for its Minority Broker Program, an increase from 11 in 2019. Started in 2007, the program consists of firms owned by minorities, women, and disabled veterans. Participating broker-dealers are also utilized by Northern Trust Securities, Inc., NTAM’s brokerage affiliate, whose growing use of the program led to the increase in firms selected.
Each firm was selected for one or more asset classes, based on quantitative and qualitative selection criteria, including execution capabilities, technology platforms and performance. The firms are:
- Academy Securities, Inc.
- AmeriVet Securities, Inc.
- C. L. King & Associates, Inc.
- Cabrera Capital Markets LLC
- CastleOak Securities LP
- Guzman & Company
- Loop Capital Markets
- Mischler Financial Group, Inc.
- North South Capital
- Penserra Securities, LLC
- R. Seelaus & Co., LLC
- Rice Securities, LLC
- Roberts & Ryan Investments
- Samuel A. Ramirez & Co
- Siebert Williams Shank & Co., LLC
- Tigress Financial Partners
“We at NTAM take very seriously and are very proud of our long-standing commitment to advancing diversity, equity and inclusion (DE&I),” Northern Trust Asset Management Chief Investment Officer Angelo Manioudakis said. “To that end, we are delighted to be expanding our partnership with firms owned by minorities, women, and disabled veterans.”
NTAM’s commitment to DE&I is also part of its Multi-manager Solutions business which has invested approximately $5.7 billion with 21 minority-owned investment management firms through manager-of-manager programs as of June 30, 20221. NTAM’s overall commitment to DE&I has regularly been recognized, as evidenced by the firm having been named a Diversity Champion by InvestmentNews, a leading advisor trade publication, four out of five years since the 2018 inception of its Excellence in Diversity and Inclusion Awards, including this past year.
In 2022, NTAM’s parent company, Northern Trust Corporation, received a 100% score in the “Disability Equality Index of Best Places to Work,” a comprehensive benchmarking measure of diversity inclusion 2. This marks the eight consecutive year it was named to the Index and the fourth consecutive year it received a 100% score. Also in 2022, for the fifth consecutive year, Northern Trust was named to Bloomberg’s Gender Equality Index, which tracks the performance of public companies committed to disclosing their efforts to support gender equality through policy development, representation and transparency.
“We look forward to working with both the new and returning member firms of our Minority Brokerage Program,” Manioudakis said. “The application and selection process are quite rigorous, so we have complete confidence that chosen firms will provide the high level of service for which clients have been turning to NTAM for decades.”
The firms were selected by a group of Northern Trust partners from a group of 28 broker-dealers that responded to a request for information. This is the seventh time that Northern Trust Asset Management has gone through this process since the program’s inception in 2007.
1Assets represent Northern Trust Investments. Inc. multi-manager accounts.
2The Disability Equality Index (DEI) is a comprehensive benchmarking tool that helps companies build a roadmap of measurable, tangible actions that they can take to achieve disability inclusion and equality. Each company receives a score, on a scale of zero (0) to 100, with those earning 80 and above recognized as “Best Places to Work for Disability Inclusion.” A joint initiative of Disability:IN and the American Association of People with Disabilities (AAPD), the DEI is an objective, reflective, forward-thinking and CONFIDENTIAL disability inclusion rating tool to assist business.
About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments, so they can confidently realize their long-term objectives. Entrusted with US$999.1 billion of investor assets as of September 30, 2022, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect, and transparency.
Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Belvedere Advisors LLC, Northern Trust Asset Management Australia Pty Ltd and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2022, Northern Trust had assets under custody/administration of US$12.8 trillion, and assets under management of US$1.2 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
