WEBULL

The Bull Case For Northern Trust (NTRS) Could Change Following New Wealth CIO And AJ Bell Mandate

Simply Wall St · 1d ago
  • Northern Trust has appointed Eric Freedman as Chief Investment Officer for its Wealth Management business and, alongside Carne Group, is now providing asset servicing and Authorised Corporate Director support for AJ Bell’s nine in-house multi-asset funds, which together hold about £5.00 billion (approx. US$6.50 billion) in assets.
  • The combination of new investment leadership and a sizeable UK fund servicing mandate highlights how Northern Trust is refining its wealth platform while expanding its role in outsourced investment operations for retail-focused managers.
  • Next, we’ll examine how Eric Freedman’s appointment as Wealth Management CIO could influence Northern Trust’s investment narrative and growth priorities.

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Northern Trust Investment Narrative Recap

To own Northern Trust, you need to believe in its ability to compound fee-based wealth and asset servicing revenue while steadily lifting margins through technology and scale. The Eric Freedman appointment and the AJ Bell fund servicing win do not materially change the near term picture, where the key catalyst remains execution on operating leverage and the main risk is that growth continues to trail broader capital markets peers.

Among recent announcements, the AJ Bell mandate stands out as most connected to this leadership change. It reinforces Northern Trust’s positioning in outsourced fund operations for retail-focused managers, which ties directly into the company’s effort to boost fee income and improve profitability. How effectively the firm converts similar wins into broader cross-selling and margin improvement will be central to the investment case over the next few years.

Yet behind this steady progress, investors should be aware that slower expected revenue and earnings growth versus the wider US market could...

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Northern Trust's narrative projects $8.2 billion revenue and $1.4 billion earnings by 2028.

Uncover how Northern Trust's forecasts yield a $134.36 fair value, in line with its current price.

Exploring Other Perspectives

NTRS Community Fair Values as at Dec 2025
NTRS Community Fair Values as at Dec 2025

Four members of the Simply Wall St Community estimate fair value for Northern Trust between US$114 and an extreme outlier above US$250,000, showing how far personal models can diverge. Against this wide spread of opinions, the core debate remains whether Northern Trust’s efforts to improve operating leverage and margins can offset its slower forecast growth compared with the broader US market.

Explore 4 other fair value estimates on Northern Trust - why the stock might be a potential multi-bagger!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.