Trust, investment and other servicing fees in Personal Financial Services (PFS) totaled $278.3 million in the current quarter, increasing $42.5 million, or 18%, from $235.8 million in the prior year quarter. The increase in the current quarter primarily reflects the favorable impact of markets on fees, strong new business, revised fee structures, and lower waived fees in money market mutual funds. Money market mutual fund fee waivers in PFS totaled $9.6 million in the current quarter compared with $21.3 million in the prior year quarter.Foreign exchange trading income totaled $40.8 million, down $30.9 million, or 43%, compared with $71.7 million in the prior year quarter. The current quarter decrease is attributable to reduced currency market volatility.
Northern Trust Corporation Reports Fourth Quarter Net Income Of $167.7 Million, Earnings Per Common Share Of $0.69. Full Year Net Income Of $687.3 Million, Earnings Per Common Share Of $2.81.
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