Northern Trust Expands With New Jacksonville Office

Rhea-AI Summary

Northern Trust has opened a new office in Jacksonville, Florida, marking its 20th office in the state. With over 50 years of presence, the firm now manages $53 billion in assets and employs more than 600 personnel in Florida. The new office will cater to families, family offices, and foundations, enhancing their investment and planning services in Northeast Florida. Northern Trust aims to leverage the region's growing demand for financial services amidst ongoing population growth.

Positive

• Opening a new office enhances client service in Northeast Florida.
• Northern Trust has over 600 employees and manages $53 billion in assets in Florida.
• Strengthens their position as the largest trust company in Florida.

Negative

• None.

20^th Office in Florida Demonstrates Longstanding Commitment to State

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Northern Trust has opened a new office at 1 Independent Drive in downtown Jacksonville, serving the comprehensive investment and sophisticated planning needs of families, family offices and foundations in Northeast Florida.

Over 50 years of doing business in Florida, Northern Trust now has 20 offices, more than 600 employees and $53 billion in assets under management in the fast-growing state. Northern Trust offers comprehensive wealth management services including investment management, fiduciary, wealth planning, banking and lending services in addition to other capabilities. It is the largest trust company in Florida.

While the office is new, Northern Trust has served clients in the Jacksonville area for many years.

“Opening this office affirms our long-term commitment to the families and foundations in Northeast Florida, while also positioning us to better serve additional clients in the future,” said Henry Johnson, Northern Trust Wealth Management East Region President. “We look forward to participating as an engaged member of the Jacksonville community.”

Florida’s continued population growth and status as a popular destination for Americans moving from other states has led to increased demand for the bespoke financial services and advice that Northern Trust offers, said John Donahoo, Senior Managing Director of the Northeast Florida market for Northern Trust and head of the Jacksonville office.

“Northeast Florida is fully participating in the population growth occurring across the State,” Donahoo said. “Our parks and beaches, downtown revitalization, vibrant arts and culture offering and favorable business climate are all supportive of, and reasons for, the pace of growth.

“With this growth, we are seeing expanded interest in having conversations about investment strategy, philanthropy and family legacy, and we look forward to playing a role in those conversations,” Donahoo said.

Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise and ranks among the top 10 U.S. wealth managers, with $396.2 billion in assets under management as of March 31, 2022. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220621006032/en/

Karen Mellen

(773) 860-8110

KEM6@ntrs.com

Source: Northern Trust Corporation

FAQ

What recent development has Northern Trust announced regarding its Jacksonville office?

Northern Trust has opened a new office in Jacksonville, Florida, reinforcing its commitment to the region.

How many offices does Northern Trust have in Florida as of this announcement?

Northern Trust now has 20 offices in Florida.

What is the total amount of assets under management by Northern Trust in Florida?

Northern Trust manages $53 billion in assets in Florida.

What services does Northern Trust provide in its new Jacksonville office?

The Jacksonville office offers comprehensive wealth management services including investment management and planning.

How has Northern Trust been serving its clients in Jacksonville prior to this new office?

Northern Trust has been serving clients in the Jacksonville area for many years before opening the new office.