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Northern Trust (NTRS) says it will announce plans to cut costs early next year, anticipated to...

Northern Trust (NTRS) says it will announce plans to cut costs early next year, anticipated to include a round of job layoffs. As a bank specializing in trust services, low interest rates have cut sharply into the bank's ROE - 8.8% for H1 compared to 13%-15% in healthier times. CEO Rick Waddell says Northern is adding clients, but concedes low rates will stay for at least another two years.
Comments (1)
  • WalkerPercy
    , contributor
    Comment (1) | Send Message
     
    They'll be back. Pruning stimulates renewed growth. Painful at the cut; necessary to sustain the tree.
    14 Sep 2011, 09:54 AM Reply Like
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