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Employees Submit 1,160 Efficiency Ideas; Goals for 2012 Set
Submitted by: Northern Trust Corporation
Posted: May 08, 2012 – 12:33 PM EST
CHICAGO, May 08 /CSRwire/ - Northern Trust Corporation (NASDAQ: NTRS), a leading provider of financial services for institutions, affluent individuals and families, released its second annual Corporate Social Responsibility (CSR) report today, detailing 2011 global initiatives and setting CSR goals for 2012.
“Being a socially responsible corporation can manifest itself in many ways – all of which ultimately help make life better for our clients, shareholders, partners and the communities we serve,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “Whether promoting environmental stewardship, creating innovative initiatives to serve communities and people at risk, or improving client and partner satisfaction, a rigorous CSR program ensures that we set priorities to best reflect our principles of service, expertise and integrity.”
Highlights from the report during 2011 include:
Northern Trust also announced CSR goals for 2012, including efforts to:
“Corporate social responsibility – combined with strategic stakeholder engagement – is smart business,” said Connie Lindsey, executive vice president and head of Corporate Responsibility. “We believe CSR creates measurable growth and value as a fully integrated part of our business strategy.”
As part of Northern Trust’s 2011 efforts, a Global Productivity Council developed a sustainable corporate-wide process to identify, drive and measure efficiency-improvement ideas. Local councils were organized around business units, functions and regions to ensure integration into the ongoing management of the business. Staff worldwide generated more than 1,100 ideas for review and possible execution.
Northern Trust is widely recognized for corporate excellence. According to the U.S. Department of Commerce’s Minority Business Development Agency, “CEO commitment is the single most important component in establishing a successful corporate diversity strategy.” In 2011, Waddell was named to the “CEO Leadership Circle of Excellence” by the Minority Business Development Agency of the United States Department of Commerce.
Other Northern Trust rankings include:
Northern Trust was one of just two large U.S. banking institutions that did not cut shareholders’ dividends during the financial crisis and maintained its dividend for the 115th consecutive year in 2011, which also was Northern Trust’s 24th year of consecutive annual profits. Northern Trust strives to invest 1.5 percent of pre-tax profits in social initiatives. In the last five years, Northern Trust corporate philanthropy has contributed more than $72.6 million in support of nonprofit organizations worldwide.
Northern Trust’s CSR report complies with reporting standards of the Global Reporting Initiative™, an organization that pioneered the world’s most widely used sustainability reporting framework. Northern Trust also worked with Deloitte & Touche LLP to validate the report’s factual accuracy in an external assurance report. Northern Trust's adherence to GRI’s framework, its numerous disclosures, and third-party review earned it a B+ reporting level from GRI.
To view the full 2011 CSR report, a condensed highlights report or customized report for Northern Trust, visit here.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2012, Northern Trust had assets under custody of US$4.6 trillion, and assets under investment management of US$716.5 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.
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