Northern Trust Named Best Private Bank for Family Offices and Succession Planning

Rhea-AI Summary

Northern Trust (NTRS) Wins Top Honors in Wealth Management Categories from Professional Wealth Management and The Banker, Recognized for Best Private Bank for Family Offices and Succession Planning in the U.S., Highly Commendable in Other Categories

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• Northern Trust recognized for its focus on client service and strong financial position, allowing for growth and innovation even during market and geopolitical stress
• Expansion of teams across Europe and Asia enables global high-touch service for family offices, broader focus on segments such as women entrepreneurs ensures vital disciplines of investment and succession planning reach all parts of the client base
• Northern Trust's GFO group works with more than 450 families in more than 30 countries, expanded into Canada and Latin America last year, and has led the industry in providing comprehensive, bespoke advice to some of the most successful, complex families in the world

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• None.

CHICAGO--(BUSINESS WIRE)-- Northern Trust, a leading provider of wealth management services, has taken top honors in two categories from Professional Wealth Management and The Banker magazines, publications of the Financial Times Group:

• “Best Private Bank for Family Offices, U.S.”
• “Best Private Bank for Succession Planning, U.S.”

In addition, Northern Trust was named Highly Commendable for the categories Best Private Bank in the U.S. and Best Private Bank for Wealthy Women, North America.

“There were several initiatives from Northern Trust which the judges felt worthy of note,” said Yuri Bender, editor-in-chief of Professional Wealth Management. “Firstly, the role of the Northern Trust Institute in providing research and advice for both advisers and clients is a valuable asset for the business.

“Secondly, the expansion of teams across Europe and Asia is enabling the firm to provide its high-touch service for family offices on much more of a global basis. Thirdly, a broader focus on segments, such as women entrepreneurs, is ensuring vital disciplines of investment and succession planning are reaching all parts of the group's increasingly diverse client base.”

Northern Trust Wealth Management President Steven L. Fradkin said the recognitions highlight Northern Trust’s focus on client service, made possible by the firm’s strong financial position that allows Northern Trust to continue to grow and innovate even during times of market and geopolitical stress.

“We are grateful for this recognition of the world-class service that we provide to our clients and the ways we enhance our products and service for their benefit,” he said. “Our innovations in succession planning continue our 130-year history of helping our personal and institutional clients achieve their goals and pass on their values, not just their assets.

“Our Global Family and Private Investment Offices (GFO) is a global leader in providing seamless service to clients across 25 countries, with a focused commitment to families of significant wealth, their private foundations and the family offices that serve them.”

Northern Trust’s GFO group works with more than 450 families in more than 30 countries, and last year expanded into Canada and Latin America. For decades, GFO has led the industry in providing comprehensive, bespoke advice to some of the most successful, complex families in the world.

“We are pleased for this recognition of the ways that our world-class capabilities assist our clients in handling their most complex challenges,” GFO President David W. Fox Jr. said. “We surround our clients with our dedicated investment team, international focus, and sophisticated technology solutions to access disparate and diverse holdings.”

The awards are part of the Global Private Banking Awards created in 2009 to recognize excellence in the wealth management industry by firms worldwide. More than 120 banks from a record 65 countries entered submissions for the award.

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, with $369.9 billion in assets under management as of September 30, 2023. 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 25 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2023, Northern Trust had assets under custody/administration of US$14.2 trillion, and assets under management of US$1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231110101826/en/

Media Contact:

Karen Mellen

773-860-8110

Kem6@ntrs.com

http://www.northerntrust.com

Source: Northern Trust Corporation

FAQ

What awards did Northern Trust win from Professional Wealth Management and The Banker?

Northern Trust was recognized as the 'Best Private Bank for Family Offices, U.S.' and 'Best Private Bank for Succession Planning, U.S.' and was Highly Commendable in the categories Best Private Bank in the U.S. and Best Private Bank for Wealthy Women, North America.

What is the total assets under management for Northern Trust Wealth Management?

Northern Trust Wealth Management has $369.9 billion in assets under management as of September 30, 2023.

What is the focus of Northern Trust's GFO group?

Northern Trust's GFO group provides seamless service to clients across 25 countries, with a focused commitment to families of significant wealth, their private foundations, and the family offices that serve them. It works with more than 450 families in more than 30 countries and has led the industry in providing comprehensive, bespoke advice to some of the most successful, complex families in the world.