Category: Northern Trust

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Institutional Investing in a Changing Global Market

Institutional Investing in a Changing Global Market

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Institutional investors are balancing rapid market change with the need to make disciplined, long-term investment decisions.

As regulations evolve, technology advances, and geopolitical events influence capital flows, investors are balancing opportunity with operational discipline.

In this episode, Paul Fahey speaks with Gerard Walsh, Global Head of Market Solutions, Banking and Markets at Northern Trust, about the forces shaping institutional investing today. They explore how geopolitical developments are influencing investment decisions, why operational resilience has become a growing priority, what organizations should consider as more markets move toward T+1 settlement, and how artificial intelligence is being applied to risk management, cybersecurity, and decision support. 

Gerard also shares why strategy, thoughtful execution, and experienced human judgment continue to play an essential role alongside advancing technology.

Key takeaways:

  • How geopolitical events are influencing institutional investment decisions and capital allocation worldwide
  • Why operational resilience and risk management have become priorities for large investment organizations
  • What investors should prepare for as more global markets transition toward T+1 settlement cycles
  • Practical examples of artificial intelligence improving cybersecurity, risk monitoring, and operations
  • Why experienced human judgment remains essential alongside AI-driven decision support
  • And more!

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Scaling the Future of OCIO: Data, AI and Operational Efficiency (Video)

Scaling the Future of OCIO: Data, AI and Operational Efficiency (Video)

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The outsourced chief investment officer (OCIO) industry is growing faster than many expected, with assets projected to approach $6 trillion by 2030. In this episode of Market Pulse, Grant Johnsey sits down with Kate McCabe, Head of OCIO and Commercial Strategy at Northern Trust, to discuss findings from Northern Trust’s latest Asset Owner Peer Study.

Together, they explore how OCIOs are increasing allocations to private markets, managing liquidity challenges, leveraging AI to improve operational efficiency, and navigating growing demands around data, technology and scale. They also discuss what asset owners should be watching as the OCIO landscape continues to evolve and where service providers can help support future growth.

Important Disclosures

The audio podcast is being provided for informational and educational purposes only and is not meant to be taken as investment advice or a recommendation of any specific investment product or strategy. The information does not take your financial situation, investment objective(s), or risk tolerance into consideration. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, investment, accounting or tax advice from their own counsel.

Non‑U.S. Small Cap Equities

Non‑U.S. small cap equities may provide diversification and growth potential but carry elevated risks. These include currency volatility (e.g., U.S. dollar strength reducing returns), higher volatility, and lower liquidity. These securities are more sensitive to local economic, political, and regulatory conditions and may underperform in certain market cycles. They may include lower-quality or unprofitable issuers and are more exposed to trade policy and geopolitical developments.

Alternative Investments

Alternative investments are not suitable for all investors. Hedge funds use leverage, derivatives, and short selling, which can amplify losses. These investments are typically illiquid, lack regular pricing transparency, and charge high fees that may reduce returns. Interests are not readily transferable, and a secondary market may not exist. Investors should also consider tax complexity and reduced regulatory oversight compared to mutual funds.

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Scaling the Future of OCIO: Data, AI and Operational Efficiency (Audio)

Scaling the Future of OCIO: Data, AI and Operational Efficiency (Audio)

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The outsourced chief investment officer (OCIO) industry is growing faster than many expected, with assets projected to approach $6 trillion by 2030. In this episode of Market Pulse, Grant Johnsey sits down with Kate McCabe, Head of OCIO and Commercial Strategy at Northern Trust, to discuss findings from Northern Trust’s latest Asset Owner Peer Study.

Together, they explore how OCIOs are increasing allocations to private markets, managing liquidity challenges, leveraging AI to improve operational efficiency, and navigating growing demands around data, technology and scale. They also discuss what asset owners should be watching as the OCIO landscape continues to evolve and where service providers can help support future growth.

Important Disclosures

The audio podcast is being provided for informational and educational purposes only and is not meant to be taken as investment advice or a recommendation of any specific investment product or strategy. The information does not take your financial situation, investment objective(s), or risk tolerance into consideration. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, investment, accounting or tax advice from their own counsel.

Non‑U.S. Small Cap Equities

Non‑U.S. small cap equities may provide diversification and growth potential but carry elevated risks. These include currency volatility (e.g., U.S. dollar strength reducing returns), higher volatility, and lower liquidity. These securities are more sensitive to local economic, political, and regulatory conditions and may underperform in certain market cycles. They may include lower-quality or unprofitable issuers and are more exposed to trade policy and geopolitical developments.

Alternative Investments

Alternative investments are not suitable for all investors. Hedge funds use leverage, derivatives, and short selling, which can amplify losses. These investments are typically illiquid, lack regular pricing transparency, and charge high fees that may reduce returns. Interests are not readily transferable, and a secondary market may not exist. Investors should also consider tax complexity and reduced regulatory oversight compared to mutual funds.

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Digital Assets, Tokenization, and the Future of Institutional Investing

Digital Assets, Tokenization, and the Future of Institutional Investing

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Financial markets continue to evolve as institutions evaluate new ways to move assets, improve settlement processes, and expand investment opportunities.

What role will digital assets play in the future of investing? And how are institutions balancing innovation with regulation, governance, and risk management?

In this episode, Paul Fahey speaks with Andrew Czupek, Head of Digital Assets and Innovation, North America at Northern Trust, about the findings from Northern Trust’s 2026 Global Asset Owner Peer Study. They explore growing institutional adoption of digital assets, the rise of tokenized funds, the importance of interoperability between traditional and digital systems, and how regulatory developments are influencing participation.

Andrew also shares why utility, mobility, and infrastructure development are becoming key drivers of long-term institutional interest.

Key takeaways:

  • Growing institutional participation reflects increasing interest in digital assets beyond cryptocurrency exposure
  • Digital cash and settlement rails are helping address twenty-four-hour market activity needs
  • Tokenized assets create new opportunities for collateral mobility and operational efficiency
  • Regulatory frameworks are shaping institutional confidence and participation decisions
  • Interoperability between traditional and digital systems remains critical for broader adoption

Resources:

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From Undervalued to Opportunity: Inside the Rise of Women’s Sports Investing (Video)

From Undervalued to Opportunity: Inside the Rise of Women’s Sports Investing (Video)

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Institutional investors are taking a closer look at sports—not just as a passion project, but as a distinct and evolving asset class.

In this episode of Market Pulse, Jason Wright, managing partner and head of investments for Project Level at Ariel Investments, joins Northern Trust’s Grant Johnsey to explore the investment case for women’s sports. Drawing on his experience as a former NFL executive and operator, Wright explains where he sees inefficiencies in the market, what’s driving growth across teams and leagues, and how investors should think about sports within a diversified portfolio.

The conversation covers the structural dynamics shaping the industry, from media rights and valuation gaps to the emergence of a new, underserved fan base. Wright also outlines how Project Level is approaching the space—investing not only in teams, but across the broader ecosystem supporting the future of women’s sports.

Important Disclosures

The audio podcast is being provided for informational and educational purposes only and is not meant to be taken as investment advice or a recommendation of any specific investment product or strategy. The information does not take your financial situation, investment objective(s), or risk tolerance into consideration. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, investment, accounting or tax advice from their own counsel.

Non‑U.S. Small Cap Equities

Non‑U.S. small cap equities may provide diversification and growth potential but carry elevated risks. These include currency volatility (e.g., U.S. dollar strength reducing returns), higher volatility, and lower liquidity. These securities are more sensitive to local economic, political, and regulatory conditions and may underperform in certain market cycles. They may include lower-quality or unprofitable issuers and are more exposed to trade policy and geopolitical developments.

Alternative Investments

Alternative investments are not suitable for all investors. Hedge funds use leverage, derivatives, and short selling, which can amplify losses. These investments are typically illiquid, lack regular pricing transparency, and charge high fees that may reduce returns. Interests are not readily transferable, and a secondary market may not exist. Investors should also consider tax complexity and reduced regulatory oversight compared to mutual funds.

NEW FEATURE (USE THIS ONE)
From Undervalued to Opportunity: Inside the Rise of Women’s Sports Investing (Audio)

From Undervalued to Opportunity: Inside the Rise of Women’s Sports Investing (Audio)

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Podcast: Play in new window | Download | Embed

Subscribe: RSS

Institutional investors are taking a closer look at sports—not just as a passion project, but as a distinct and evolving asset class.

In this episode of Market Pulse, Jason Wright, managing partner and head of investments for Project Level at Ariel Investments, joins Northern Trust’s Grant Johnsey to explore the investment case for women’s sports. Drawing on his experience as a former NFL executive and operator, Wright explains where he sees inefficiencies in the market, what’s driving growth across teams and leagues, and how investors should think about sports within a diversified portfolio.

The conversation covers the structural dynamics shaping the industry, from media rights and valuation gaps to the emergence of a new, underserved fan base. Wright also outlines how Project Level is approaching the space—investing not only in teams, but across the broader ecosystem supporting the future of women’s sports.

Important Disclosures

The audio podcast is being provided for informational and educational purposes only and is not meant to be taken as investment advice or a recommendation of any specific investment product or strategy. The information does not take your financial situation, investment objective(s), or risk tolerance into consideration. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, investment, accounting or tax advice from their own counsel.

Non‑U.S. Small Cap Equities

Non‑U.S. small cap equities may provide diversification and growth potential but carry elevated risks. These include currency volatility (e.g., U.S. dollar strength reducing returns), higher volatility, and lower liquidity. These securities are more sensitive to local economic, political, and regulatory conditions and may underperform in certain market cycles. They may include lower-quality or unprofitable issuers and are more exposed to trade policy and geopolitical developments.

Alternative Investments

Alternative investments are not suitable for all investors. Hedge funds use leverage, derivatives, and short selling, which can amplify losses. These investments are typically illiquid, lack regular pricing transparency, and charge high fees that may reduce returns. Interests are not readily transferable, and a secondary market may not exist. Investors should also consider tax complexity and reduced regulatory oversight compared to mutual funds.

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Scaling ETF Services for Growth and Innovation

Scaling ETF Services for Growth and Innovation

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Are you keeping up with the rapid shifts in Exchange-Traded Fund (ETF) markets? 

The strategies driving innovation are reshaping how investment products are delivered and managed.

In this episode, Paul Fahey speaks with Phil Nanof, Head of ETF Services, Americas at Northern Trust, about the evolution of ETFs, particularly in the US. They explore the growth of active strategies, the impact of regulatory changes like SEC Rule 6c-11, and how automation and technology are shaping scalable operations. 

Phil also highlights key operational strategies for supporting institutional clients and their evolving investment needs.

Phil highlights:

  • The rise of active ETFs capturing significant net new money each month
  • How SEC Rule 6c-11 simplified ETF launches and adoption of active strategies
  • Operational demands increasing with product innovation and market growth
  • Importance of automation for efficiency, transparency, and error reduction
  • Integration of ETF services into existing client platforms for seamless experience
  • And more!

Connect with Phil Nanof:

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Finding Opportunity in a Changing Market: Value, Diversification and Global Small Caps (Audio)

Finding Opportunity in a Changing Market: Value, Diversification and Global Small Caps (Audio)

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In this episode of Market Pulse, host Grant Johnsey sits down with Jonathan Brodsky, Founder and Principal at Cedar Street Asset Management, to explore the evolving opportunity set in global small cap equities. 

As market dynamics shift, investors are increasingly looking beyond U.S. equities for diversification and return potential. Brodsky shares why non-U.S. small caps—often overlooked and less efficient—can offer compelling valuation opportunities and stronger risk-adjusted returns.

The conversation also examines how structural changes, including the rise of private markets in the U.S., are reshaping the small cap universe, creating a clear divergence between U.S. and non-U.S. companies. Brodsky explains how geopolitical developments, supply chain regionalization, and evolving corporate governance standards are influencing investment opportunities across global markets.

Finally, Brodsky outlines his disciplined, forward-looking approach to value investing—highlighting the importance of cutting through market noise, focusing on long-term fundamentals, and identifying companies positioned for sustainable returns.

Important Disclosures

The audio podcast is being provided for informational and educational purposes only and is not meant to be taken as investment advice or a recommendation of any specific investment product or strategy. The information does not take your financial situation, investment objective(s), or risk tolerance into consideration. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, investment, accounting or tax advice from their own counsel.

Non‑U.S. Small Cap Equities
Non‑U.S. small cap equities may provide diversification and growth potential but carry elevated risks. These include currency volatility (e.g., U.S. dollar strength reducing returns), higher volatility, and lower liquidity. These securities are more sensitive to local economic, political, and regulatory conditions and may underperform in certain market cycles. They may include lower-quality or unprofitable issuers and are more exposed to trade policy and geopolitical developments.

Alternative Investments
Alternative investments are not suitable for all investors. Hedge funds use leverage, derivatives, and short selling, which can amplify losses. These investments are typically illiquid, lack regular pricing transparency, and charge high fees that may reduce returns. Interests are not readily transferable, and a secondary market may not exist. Investors should also consider tax complexity and reduced regulatory oversight compared to mutual funds.

Finding Opportunity in a Changing Market: Value, Diversification and Global Small Caps (Video)

Finding Opportunity in a Changing Market: Value, Diversification and Global Small Caps (Video)

By |

Podcast: Play in new window | Download | Embed

Subscribe: RSS

In this episode of Market Pulse, host Grant Johnsey sits down with Jonathan Brodsky, Founder and Principal at Cedar Street Asset Management, to explore the evolving opportunity set in global small cap equities.

As market dynamics shift, investors are increasingly looking beyond U.S. equities for diversification and return potential. Brodsky shares why non-U.S. small caps—often overlooked and less efficient—can offer compelling valuation opportunities and stronger risk-adjusted returns. 

The conversation also examines how structural changes, including the rise of private markets in the U.S., are reshaping the small cap universe, creating a clear divergence between U.S. and non-U.S. companies. Brodsky explains how geopolitical developments, supply chain regionalization, and evolving corporate governance standards are influencing investment opportunities across global markets. 

Finally, Brodsky outlines his disciplined, forward-looking approach to value investing—highlighting the importance of cutting through market noise, focusing on long-term fundamentals, and identifying companies positioned for sustainable returns. 

Important Disclosures

The audio podcast is being provided for informational and educational purposes only and is not meant to be taken as investment advice or a recommendation of any specific investment product or strategy. The information does not take your financial situation, investment objective(s), or risk tolerance into consideration. Listeners, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, investment, accounting or tax advice from their own counsel.

Non‑U.S. Small Cap Equities
Non‑U.S. small cap equities may provide diversification and growth potential but carry elevated risks. These include currency volatility (e.g., U.S. dollar strength reducing returns), higher volatility, and lower liquidity. These securities are more sensitive to local economic, political, and regulatory conditions and may underperform in certain market cycles. They may include lower-quality or unprofitable issuers and are more exposed to trade policy and geopolitical developments.

Alternative Investments
Alternative investments are not suitable for all investors. Hedge funds use leverage, derivatives, and short selling, which can amplify losses. These investments are typically illiquid, lack regular pricing transparency, and charge high fees that may reduce returns. Interests are not readily transferable, and a secondary market may not exist. Investors should also consider tax complexity and reduced regulatory oversight compared to mutual funds.

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Liquidity as a Strategic Asset in Changing Markets

Liquidity as a Strategic Asset in Changing Markets

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Market conditions have shifted, and what once seemed like a simple allocation decision now demands far more attention.

How should investors think about access to cash when uncertainty, higher rates, and private markets all collide?

In this episode, host Paul Fahey is joined by Faisal Ansari, Global Head of Liquidity Solutions, and Andrew Sepiol, CFA, Liquidity Solutions Product Manager at Northern Trust, to explore why liquidity is now a central focus for asset owners. They explain how rising rates, market volatility, and growing allocations to private markets are reshaping liquidity strategies. 

The conversation also covers how cash is evolving from a defensive position to a strategic asset, along with the importance of forecasting, diversification, and data-driven decision making.

Key takeaways:

  • How higher interest rates and volatility are increasing the importance of liquidity across portfolios
  • Why cash is shifting from a defensive tool to a strategic allocation with meaningful return potential
  • The growing impact of private markets on liquidity planning and forecasting complexity
  • How segmentation of cash supports operational needs, reserves, and long-term portfolio strategy
  • The role of data, reporting, and AI tools in improving forecasting and liquidity decision-making
  • And more!

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About Faisal Ansari:

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