Investment Management & Advisory was Northern Trust’s largest product and service line in fiscal 2025, bringing in $2.66B of $5.02B (53%).
| Product and Service | FY 2016 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Total Trust, Investment & Other Servicing Fees | — | — | — | — | |||||
| Investment Management & Advisory | $2.30B | $2.23B | $2.49B | $2.66B | |||||
| Custody & Fund Administration | $1.82B | $1.81B | $1.92B | $2.03B | |||||
| Other | $235.90M | $240.30M | $246.80M | $248.40M | |||||
| Securities Lending | $81.60M | $83.90M | $74.30M | $83.00M | |||||
| Total | $4.43B | $4.36B | $4.73B | $5.02B |
Northern Trust brought in $5.02B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 6.1% from $4.73B in fiscal 2024. Investment Management & Advisory was the largest at $2.66B (53.0%), ahead of Custody & Fund Administration at $2.03B (40.4%) and Other at $248.40M (5.0%). The remaining line, Securities Lending, brought in $83.00M.
Compared with fiscal 2024, Investment Management & Advisory grew fastest, up 6.8% to $2.66B. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $4.43B to $5.02B, a compound annual growth rate of 4.2%. Investment Management & Advisory's share of the total rose from 51.9% to 53.0%.
Asset Servicing was Northern Trust’s largest segment in fiscal 2025, bringing in $2.80B of $5.02B (56%).
| Segment | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Servicing | $2.50B | $2.46B | $2.63B | $2.80B | |||||
| Corporate & Institutional Services | — | — | — | — | |||||
| Wealth Management | $1.94B | $1.90B | $2.10B | $2.22B | |||||
| Total | $4.43B | $4.36B | $4.73B | $5.02B |
Northern Trust brought in $5.02B from its two segments in fiscal 2025, the year ended December 31, 2025. That was up 6.1% from $4.73B in fiscal 2024. Asset Servicing was the largest at $2.80B (55.8%), ahead of Wealth Management at $2.22B (44.2%).
Compared with fiscal 2024, Asset Servicing grew 6.4% to $2.80B and Wealth Management grew 5.9% to $2.22B. From fiscal 2022 to 2025, combined revenue from these segments grew from $4.43B to $5.02B, a compound annual growth rate of 4.2%. Asset Servicing's share of the total fell from 56.3% to 55.8%.
Northern Trust (NTRS) reports its revenue by product and service and by segment. In fiscal 2025, Investment Management & Advisory was its largest product and service line, bringing in $2.66B (53.0% of the total), followed by Custody & Fund Administration at $2.03B (40.4%).
Investment Management & Advisory was Northern Trust's largest product and service line in fiscal 2025, bringing in $2.66B, or 53.0% of the $5.02B total across its four product and service lines.
Asset Servicing was Northern Trust's largest segment in fiscal 2025, bringing in $2.80B, or 55.8% of the $5.02B total across its two segments.
Among Northern Trust's product and service lines that make up at least 2% of revenue, Investment Management & Advisory grew fastest in fiscal 2025, up 6.8% from $2.49B to $2.66B.
Every figure comes from Northern Trust's annual financial filings, as reported. Each line keeps the name Northern Trust gives it, and years follow its fiscal calendar.
Northern Trust's revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.