Northern Trust, the Chicago based fund manager and custody bank, saw net profits rise 29% to $147.7m (€121.5m) in the three months to September 30 as assets under management rose 14% to a record $607.4bn.

Revenues rose 22% compared with the same period last year to $685.2m. Assets under custody rose 22% to a record $2.8 trillion.

Anuj Gangahar in New York

Northern Trust

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Northern Trust assets hit all-time high

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