Social Impact Advisory Services

(Added 08/29/2021)

A conversation with Brett Rees, President | Mid-Atlantic Region, Northern Trust, and Sarah Sosa-Acevedo, NCGPC

Brett Rees

Brett Rees

NCGPC: Tell us a little bit about Northern Trust. What are your company's values? Have your company's values shifted, adapted or shone brighter in the face of COVID-19?

Brett Rees (BR): Since our founding in 1889, our core principles of service, expertise and integrity have guided our growth to meet the evolving needs of our clients. Today, we are a leading provider of asset management, asset servicing and wealth management, committed to serving our clients with our signature high-touch service.

We are also committed to an inclusive culture, where all individuals are welcomed, respected, supported and valued — which enables employees to fully participate in, and contribute to, our success. We create a healthy and collaborative work environment for employees from diverse demographic groups, leadership styles and skill sets.

Northern Trust reinforced its commitment to areas most directly impacted by COVID-19. We directed philanthropic support to key areas of need, and our matching gift program supported our employees’ commitments to their communities. Northern Trust is developing a long-term community investment strategy focusing on four key areas: quality food, housing, healthcare and education.

NCGPC: How has COVID-19 affected your business operations and how have you adapted?

BR: Northern Trust is mindful of disaster prevention, mitigation and recovery, business continuity, client confidentiality and cyber security. We deployed a number of proactive business continuity protocols across our global locations. Actions being taken vary by location and function and are being monitored and coordinated on a daily basis by our senior leadership team.

Northern Trust was able to pivot seamlessly to a complete virtual work environment as well as maintain our client service standards. Through the use of digital technologies, our client service employees not only maintained our client contact cadence but in many ways enhance that interaction. Our digital metamorphosis will forever change how we work with our clients, their families and the nonprofit organizations we serve.

NCGPC: Share a success story or a creative solution that was prompted by the challenges of the pandemic. How did your team resolve the challenge to best support your charitable clients?

BR: Many of our grant-making organizations were facing unprecedented requests for support while their investment portfolios were declining in value. Our Impact Investing Advisory team quickly moved to support our clients deploying impact investments to bridge the funding needs in their communities. Through our deep expertise investing Northern Trust’s own capital, we were able to provide education as well as co-investment with our clients during this time of need.

Throughout COVID, Northern Trust responded to all non-profit and small business client inquiries for securing PPP loan funding to meet their operational, payroll and staffing needs.

Northern TrustNCGPC: What do you value most about your relationship with NCGPC that made you decide to continue supporting us during a challenging and uncertain year?

BR: Like many firms, and after great reflection, we have re-envisioned our charitable giving in 2021 in the face of the pandemic and needs for improved social justice and racial equality. Further, like every bank grappling with the implications of a near zero rate environment, Northern is diligently assessing each partnership opportunity with regards to the benefits received. Our continued support for the NCGPC is in recognition of the work the council does in educating the local gift planning community, which was especially important to maintain during challenging times.

NCGPC: Will COVID-19 change the way your company conducts business in the future? If so, how? What does the future of your business look like post-COVID?

BR: As government orders lift, we have used a staggered return-to-office (RTO) approach that aligns to our client and business needs and ensures sites are prepared to maintain the safety, security and health of our workforce, clients, and visitors.

Every Northern Trust office is unique, so RTO planning is being done on a site-by-site basis. To assist this process, we’ve developed a flexible framework that includes a streamlined set of practical recommendations and checklists based on guidance from the U.S. Centers for Disease Control & Prevention, the World Health Organization, various leading healthcare providers and consultants and industry best practices.