YouSaid · the spoken record

Steven L. Fradkin

lines on the record: 55
first: 2021-11-24
most recent: 2021-11-24
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, you know, it's an interesting question, Barry. So in terms of size, we're in the top 20 banks in the country as measured by our balance sheet, but really the better marker of our size is the assets that we manage and the assets that we administer for clients. And we're a very quiet company. We don't do lots of big acquisitions. We do the same thing today that we've been doing since 1889, serving the same clientele. And so we're a very focused institution. A little over half our profits come from the provision of services to wealthy families in America and around the world. And the other half come from essentially providing the same services but to large global institutional investors, sovereign wealth funds, pension funds.”
2021-11-24 · Masters in Business · Steven L. Fradkin on the Creation of Wealth (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“On a sustained basis, well, gee, you know, the economy is going to crater because no baseball games, no concerts, less use of restaurants, et cetera, et cetera. I don't think people would have said the markets would do as well as they've done. So look, it's been an incredible journey. Northern Trust has navigated exceptionally well through it last year and continues to perform well today. And there are a variety of factors in that, but each and every day has been a navigation because we're still not out of the pandemic and we're still operating in a hybrid mode and balancing safety of our partners, our employees, and the needs of our clients is a daily juggling act that we're still working through. And I suspect we'll be working through for a while. Longer here”
2021-11-24 · Masters in Business · Steven L. Fradkin on the Creation of Wealth (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, you know, it's really an interesting phenomenon and it shows you in some ways the unpredictability of what can happen. If you think about COVID-19 and its impact in 2020, and if I said to you, you know, look, here's what's going to happen. We're going to go as a society, not just Northern Trust, from we all come in and we work and so forth and so on. One day on about the same day worldwide, everyone's going to start working from home facetiously. What do you think is going to happen to the markets? I think most people would have said, well, first of all, it could never happen that way. It's not going to be true that people in Sydney and London and New York and Sao Paulo are all going to be as much as one can working from home. That's just impossible. And second of all, if that were to happen,”
2021-11-24 · Masters in Business · Steven L. Fradkin on the Creation of Wealth (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Public company was, shall we say, traumatic when they asked, but did that for six years, including through the global financial crisis. And it was at that point I went back to doing what I normally do, which is running businesses. I ran our corporate institutional services business, and then after that, wealth management. So it wasn't so much going from CFO to wealth management as it was ending up as CFO, if you will, by accident from my point of view.”
2021-11-24 · Masters in Business · Steven L. Fradkin on the Creation of Wealth (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's a great question, and careers are mysterious experiences. The bigger mystery, really Barry, was the move to CFO. So I joined Northern Trust as a youngster, didn't know what I wanted to do, worked my way through a variety of entry-level jobs. Ultimately culminating at that point in running our growing international business. loving it, traveling the world, clients in Asia, Europe, the Middle East, Africa, South America, really fun and interesting stuff, and was asked at that point to serve as CFO, which was the unnatural job, was not a controller, was not a treasurer. And so serving as CFO of a large”
2021-11-24 · Masters in Business · Steven L. Fradkin on the Creation of Wealth (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source