Latest News
Sue Ling Gin Foundation Trust's $10 million donation fuels Chinese American Service League's vision for community care expansion
By Southland Marquee | Dec 20, 2023
The Chinese American Service League (CASL) marked its 45th anniversary with a gala in Chicago, sponsored by the Sue Ling Gin Foundation Trust. The foundation generously donated $10 million to the organization. The event attracted over 400 Chicago residents, all showing their support for CASL's community mission.
Chicago opens fifth Community Reentry Support Center for returning residents
By Southland Marquee | Dec 18, 2023
The city of Chicago has announced the inauguration of its fifth Community Reentry Support Center (CRSC). The new center, designed to assist residents returning to Chicago's West Side, is a significant addition to the city's infrastructure.
CME Group sets new milestone with over 60 million SOFR contracts
By Southland Marquee | Dec 17, 2023
CME Group recently revealed that its Secured Overnight Financing Rate (SOFR) complex has achieved a significant milestone by setting a new record of 60,435,467 contracts. This total comprises 48.3 million options contracts and 12.1 million futures contracts, all of which operate under CME rules.
Mayor Johnson's executive order streamlining housing and commercial development approvals
By Southland Marquee | Dec 15, 2023
The city of Chicago has officially announced that Mayor Brandon Johnson has signed an Executive Order aimed at simplifying city approvals. This significant announcement was made during the groundbreaking ceremony for Grace Manor Apartments, a $40 million project committed to ensuring 100 percent affordability in Chicago’s North Lawndale neighborhood.
CME Group extends CEO tenure through 2025
By Southland Marquee | Dec 12, 2023
CME Group has announced the extension of Chairman and Chief Executive Officer Terry Duffy's tenure through an updated contract agreement approved by the Board. Duffy, a veteran of the futures industry for over 40 years, has held his current position since 2016.
CME Group introduces FX Spot+ to unify OTC and futures liquidity
By Southland Marquee | Dec 12, 2023
CME Group has announced the introduction of CME FX Spot+, a comprehensive spot foreign exchange (FX) marketplace. The new platform leverages FX Link, a liquid and tradable spread between over-the-counter (OTC) spot FX and CME Group's FX futures, to bridge liquidity across the two trading environments.
Northern Trust chosen as custodian for Nebraska Investment Council pensions
By Southland Marquee | Dec 8, 2023
Northern Trust, a leading provider of wealth management services, has announced that the Nebraska Investment Council (NIC) has chosen it to provide asset management and servicing solutions for its pension fund. These solutions include custody, portfolio analytics, and securities lending. The NIC is responsible for providing investment services for the state of Nebraska and oversees the management of assets in state pensions and trust funds.
Extreme demands from union lead to permanent closure of Berlin Nightclub
By Southland Marquee | Dec 5, 2023
Chicago’s iconic LGBTQ+ bar, Berlin Nightclub, is permanently closing after 40 years of business. The club made the announcement on Nov. 21 on its website after previously highlighting extreme demands it was facing from Local 1 Union earlier this fall.
Flying Food Group’s Sue Ling Gin Foundation donates $21 million to Chicago community violence intervention program
By Southland Marquee | Dec 5, 2023
The Sue Ling Gin Foundation Trust, which is affiliated with airline catering company Flying Food Group (FFG), has recently donated $21 million to Chicago CRED, a community violence intervention program. The substantial donation was publicly announced on the organization's website on November 28th.
CME Group announces winners of 20th University Trading Challenge
By Southland Marquee | Dec 4, 2023
CME Group, a leader in the trading world, declared the winners of its 20th annual University Trading Challenge. The team from Universidad De Guadalajara in Mexico outshone their peers to claim first place. Contestants for this challenge came from as many as 156 universities worldwide.
Northern Trust's annual service effort achieves record-breaking success
By Southland Marquee | Nov 26, 2023
Northern Trust announced that employees engaged in various group activities, such as constructing homes in the United States, planting trees in India, participating in urban farming in Ireland, caring for shelter dogs in the Philippines, and facilitating resume workshops for youth in the United Kingdom. These initiatives took place as part of Northern Trust's annual service effort, showcasing the global impact of their corporate social responsibility across different regions. This year’s community engagement was part of the company’s "Achieving Greater Together" initiative,...
Northern Trust Universe data reveals institutional plans record negative returns amid Q3 global equity market sell-off
By Southland Marquee | Nov 26, 2023
Northern Trust announced that, according to The Northern Trust Universe data, U.S. institutional investment plans faced challenges in the third quarter of 2023 due to global equity market declines triggered by concerns among investors about the necessity of an extended period of high-interest rates to curb the U.S. economy. The Northern Trust Universe monitors the performance of 398 large U.S. institutional investment plans, collectively valued at over $1.3 trillion. This assessment comes as part of Northern Trust's quarterly review and analysis.
Northern Trust receives top honors as best private bank for family offices and succession planning
By Southland Marquee | Nov 26, 2023
Northern Trust announced it has been recognized by Professional Wealth Management and The Banker magazines, publications of the Financial Times Group, receiving top honors as "Best Private Bank for Family Offices, U.S." and "Best Private Bank for Succession Planning, U.S." Additionally, Northern Trust earned a designation in the categories of "Best Private Bank in the U.S." and "Best Private Bank for Wealthy Women, North America." This honor was given due to their impressive portfolio and renowned client service.
Northern Trust Asset Management appoints new Head for International Quantitative Strategies
By Southland Marquee | Nov 26, 2023
Northern Trust announced Guido Baltussen, Ph.D., has been appointed as the Head of Quantitative Strategies, International, at Northern Trust Asset Management (NTAM). In this newly established position, Baltussen will oversee NTAM's international quantitative strategies investments, focusing on quantitative research, innovation, thought leadership and investment strategy to facilitate the company's growth. This change took place as part of Northern Trust's continuous efforts to expand and enhance its global market presence.
Nourishing Hope receives Northern Trust Anchor Award
By Southland Marquee | Nov 26, 2023
Northern Trust announced that Nourishing Hope will be awarded the first Northern Trust Anchor Award, a grant of up to $1 million to enhance the influence of innovative nonprofit organizations displaying strong growth potential. This award is intended to bolster the capacity of exceptionally impactful nonprofit organizations by providing a grant focused on reinforcing infrastructure, systems, skills, and resources. The Chicago-based organization Nourishing Hope is dedicated towards eradicating hunger and poverty.
Northern Trust Chosen as asset servicing provider for Costco Retirement Plan
By Southland Marquee | Nov 26, 2023
Northern Trust announced its selection by Costco Wholesale Corporation to deliver custody, daily valuation, and brokerage services for Costco's defined contribution retirement plan, which holds $29 billion in assets. In the asset owner segment, the objective is to enable clients, such as Costco, to enhance investment returns, ultimately allowing them to better serve their constituents. The service delivery is expected to elevate the retail giant's retirement plan management for its employees.
Northern Trust Chosen as asset servicing provider for Costco Retirement Plan
By Southland Marquee | Nov 26, 2023
Today, Northern Trust announced its selection by Costco Wholesale Corporation to deliver custody, daily valuation, and brokerage services for Costco's defined contribution retirement plan, which holds $29 billion in assets. In the asset owner segment, the objective is to enable clients, such as Costco, to enhance investment returns, ultimately allowing them to better serve their constituents. This strategic partnership underscores Northern Trust's continued commitment to offering innovative solutions that address the unique needs of its diverse clientele.
Northern Trust collaborates with Novata for enhanced private markets data and benchmarking
By Southland Marquee | Nov 24, 2023
Northern Trust announced an agreement to offer Novata's ESG data management software to its asset-servicing clients. This initiative seeks to strengthen the ESG impact understanding while simplifying data collection for private companies. The platform, featuring clear definitions and tools for calculating ESG metrics, is complemented by support from ESG experts, as well as benchmarking and analytics, enabling contextual review and industry peer comparisons of the data.
BMO's wrap the good campaign returns to support underrepresented businesses
By Southland Marquee | Nov 24, 2023
BMO Harris Bank announced the Wrap the Good campaign, along with a holiday gift guide, to promote financial progress and awareness for underrepresented groups, including women, Indigenous, Native, Latino, Black, and/or Asian-owned businesses. The gift guide features BMO Business Banking clients such as Cheekbone Beauty, Maison Apothecare, Campy Home, and Sarah Konyer Creative Studio. This initiative aligns with BMO's ongoing efforts to support diverse enterprises across North America.
Chicago city council approves mayor's $16.77 billion 'People's Budget' for FY2024
By Southland Marquee | Nov 23, 2023
The Chicago city council recently approved Mayor Brandon Johnson's FY24 budget with a 41-8 vote. Totaling $16.77 billion, the "People's Budget," will allocate funds to priority areas such as public safety and mental health care, along with investments in the youth of the city. The budget has been dubbed 'The People's Budget' due to its focus on addressing core needs of the populace without increasing property taxes.