Northern Trust Wealth Management Announces Central Region Leadership Changes

Rhea-AI Summary

Northern Trust (Nasdaq: NTRS) announced leadership changes in its Central Region, with James Kuehn and Daniel Pienta retiring as Wealth Management Presidents for Wisconsin and Eastern Michigan, respectively. Bradley Peters and Brian Hughes will take over these roles, bringing extensive wealth management experience. Peters has over 30 years in wealth management and previously led the Private Client Advisory Team in Milwaukee, while Hughes has 27 years of experience and was a Senior Portfolio Manager in Grand Rapids. The firm currently manages $347.8 billion in assets.

Positive

• Appointment of Bradley Peters and Brian Hughes expected to drive continued growth in the Central Region due to their extensive experience.
• Peters and Hughes bring deep regional expertise, which may enhance client relationships and service delivery.

Negative

• Retirement of Kuehn and Pienta may create continuity concerns during the transition period.

Northern Trust (Nasdaq: NTRS) today announced leadership changes in two of its Central Region markets. James Kuehn is retiring as Wealth Management President of Wisconsin, with Bradley Peters being tapped to oversee the market. Daniel Pienta is retiring as Wealth Management President of Eastern Michigan, and Brian Hughes will assume the role.

“We are grateful for the long-standing stewardship consistently exhibited by Jim and Dan,” said John Fumagalli, President of the Central Region at Northern Trust. “I express my sincere appreciation for their remarkable contributions and dedicated service to their respective regions and the firm as a whole.”

“We are delighted to welcome Brad and Brian into expanded roles,” Fumagalli continued. “They both bring deep regional experience and expertise that will continue the strong trajectory of growth and expansion our business has experienced in the Central region.”

Peters assumes his new role in Wisconsin with more than 30 years of experience in wealth management, most recently serving as Investment Advisor and Team Leader for Northern Trust’s Private Client Advisory Team in Milwaukee. He joined Northern Trust in 2005 and prior to his role in Milwaukee, served as Investment Team Leader for Northern Trust in Lake Forest, Illinois. He received his bachelor of business administration degree in Accounting from the University of Wisconsin.

Peters is a Certified Financial Planner, Certified Public Accountant and CFA charter holder. He is a member of the CFA Institute and the CFA Society of Milwaukee. He is a past member of the Finance Committee for the United Way of Greater Milwaukee and Waukesha County and has been involved with many other local community organizations.

Hughes assumes his new role in Eastern Michigan with more than 27 years of trust and investment experience working with high net worth families, not-for-profit organizations and institutions. Hughes’ most recent position was Senior Portfolio Manager for Northern Trust in Grand Rapids, Michigan. He also held the roles of Investment Consultant and Senior Global Portfolio Analyst.

He received his bachelor’s degree in Finance and Business Administration from Calvin College and his master’s degree with honors in Finance from Kellstadt Graduate School of Management at DePaul University. He is an acting member of the Steelcase Foundation Investment Committee.

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 $347.8 billion in assets under management as of December 31, 2020. 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 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2020, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 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.

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FAQ

What leadership changes are occurring at Northern Trust in 2023?

Northern Trust announced that James Kuehn and Daniel Pienta are retiring, with Bradley Peters and Brian Hughes succeeding them as Wealth Management Presidents in Wisconsin and Eastern Michigan.

Who are the new Wealth Management Presidents for Northern Trust?

Bradley Peters will lead Wealth Management in Wisconsin, and Brian Hughes will manage Wealth Management in Eastern Michigan.

What experience do the new leaders at Northern Trust have?

Bradley Peters has over 30 years of experience in wealth management, while Brian Hughes brings 27 years of experience working with high-net-worth clients.

How might the leadership changes affect Northern Trust's business?

The appointments of Peters and Hughes are expected to continue the growth trajectory of Northern Trust's business in the Central Region, enhancing client service.