Northern Trust Corporation (NTRS) Q1 2023 Earnings Call Transcript

Northern Trust Corporation (NASDAQ:NTRS) Q1 2023 Earnings Conference Call April 25, 2023 9:00 AM ET

Company Participants

Michael O’Grady - Chairman & Chief Executive Officer

Jason Tyler - Executive Vice President & Chief Financial Officer

Jennifer Childe - Senior Vice President, Director of Investor Relations

Lauren Allnut - Controller

Grace Higgins - Investor Relations

Conference Call Participants

Glenn Schorr - Evercore

Betsy Graseck - Morgan Stanley

Brennan Hawken - UBS

Alex Blostein - Goldman Sachs

Ken Usdin - Jefferies

Brian Bedell - Deutsche Bank

Jim Mitchell - Seaport Global

Mike Mayo - Wells Fargo Securities

Steven Chubak - Wolfe Research

Vivek Juneja - JP Morgan

Operator

Good day, and welcome to the Northern Trust Corporation First Quarter 2023 Earnings Conference Call. Today’s conference is being recorded.

At this time, I’d like to turn the conference over to Jennifer Childe, Director of Investor Relations. Please go ahead.

Jennifer Childe

Thank you, Cynthia. Good morning, everyone, and welcome to Northern Trust Corporation’s first quarter 2023 earnings conference call. Joining me on our call this morning are Mike O’Grady, our Chairman and CEO; Jason Tyler, our Chief Financial Officer; Lauren Allnut, our Controller, and Grace Higgins from our Investor Relations team.

Our first quarter earnings press release and financial trends report are both available on our website at northerntrust.com. Also on our website, you will find our quarterly earnings review presentation, which we will use to guide today’s conference call. This April 25 call is being webcast live on northerntrust.com. The only authorized rebroadcast of this call is the replay that will be made available on our website through May 25.

Northern Trust disclaims any continuing accuracy of the information provided in this call after today. Please refer to our Safe Harbor statement regarding forward-looking statements on Page 12 of the accompanying presentation, which will apply to our commentary on this call.

During today’s question and answer session, please limit your initial query to one question and one related follow-up. This will allow us to move through the queue and enable as many people as possible the opportunity to ask questions as time permits.

Thank you again for joining us today. Let me turn the call over to Mike O’Grady.

Michael O’Grady

Thank you, Jennifer. Let me join in welcoming you to our first quarter 2023 earnings call. The recent disruption in the banking sector reminds us of the importance of resiliency to be able to meet the needs of clients in all operating environments.