Northern Trust Named Best Private Bank for Family Offices and Succession Planning
November 10 2023 - 7:50AM
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.
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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
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