facebook
twitter
rss
account
search
search
 

Northern Trust Corp. wants independence

April 28, 2007 at 8:20 AM   |   Comments

CHICAGO, April 28 (UPI) -- Chicago-based Northern Trust Corp. plans to remain independent as long as it continues to satisfy its shareholders, said CEO William Osborn.

Osborn spoke of the company's plans last week after his annual shareholder meeting, the Chicago Tribune reported Saturday.

Northern Trust is one of the last large publicly traded financial companies in the Chicago area. Despite's Northern's present plans, it may be forced to join with another financial institution, said Kenneth Lewis, chairman and chief executive of Bank of America Corp.

"I haven't looked at Northern Trust in quite some time, and I don't know how big they are anymore," Lewis said. "But I'd doubt that five years from now that they'd be independent."

Lewis was in Chicago last week to meet with bank employees and Chicago officials about Bank of America's proposed $21 billion purchase of LaSalle Bank.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Additional sub-components being made for Ballistic Missile Defense radar Additional sub-components being made for Ballistic Missile Defense radar
2
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
3
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
Trending News
Video
x
Feedback