50 S. LaSalle St., Chicago 60675, 312-630-6000
COMPANY
Founded: 1889
Year-end: Dec. 31
Employees: 6,227; 4,893 in Illinois
Assets: $16.9 billion
Stock: 365-day close
High: $45.12
Low: $37
April 29: $41.75
May 1, 1994, value of $1,000 in company stock
Purchased 1993: $984
Purchased 1989: $2,411
CHIEF EXECUTIVE
David W. Fox, 62, since 1989
Cash compensation: $1,114,494, up 6 percent
Options granted: $937,500, up 15 percent
Options, stock appreciation rights exercised: $524,792
Shares owned: 308,812 of 53.3 million
Restricted stock: None
The global nature of Northern Trust’s business is relatively unknown in Chicago, where the bank is fondly considered a longtime local fixture. But the bank’s reputation for trust expertise helped it add clients in the Far East, Africa, the Middle East and Europe.
Domestically, Northern added to its personal trust business by opening offices in West Los Angeles and Houston and three in Florida.
But the bank also made headlines when it announced the that U.S. Department of Justice was reviewing its mortgage lending. After a public dressing down by Chicago aldermen for a lackadaisical pace in minority lending and executive promotion, Northern said it plans to open a branch on the city’s South or West Side and nominated Dolores Cross as the first African-American on its board.
