CHICAGO–(COMMERCIAL THREAD) – Northern Trust, a leading provider of wealth management services, has been named “Best Private Bank in the United States” by Professional Wealth Management and The Banker magazines, publications of the Financial Times group. Northern Trust was also named “Best Private Bank in the United States for Family offices. ”
“Northern Trust continued to improve its business throughout the Covid pandemic, recognizing that many clients are rethinking their goals and wealth management plans,” said Professional Wealth Management Editor-in-Chief Yuri Bender. “This innovative and traditional asset manager has strengthened its data collection system, ensuring that advice to clients is increasingly anchored in research. The judges also noted the continuous improvement of the Goal-oriented wealth management framework, to which a series of new digital features and tools have been added.
“We are delighted to receive this recognition, which reflects our holistic approach to wealth management as we serve family offices, family foundations, high net worth individuals and private trust and investment companies in more than 25 countries.” , Northern Trust Wealth Management said chairman Steven L. Fradkin. “The key to our success is the success of our clients, and we strive to exceed expectations by providing them with personalized advice when they need it most.
“The global pandemic has revealed the power of our ‘prepare, don’t predict’ philosophy and underscored the importance of having a plan based on long-term goals that can adapt to changing circumstances.”
In addition to the “Best Private Bank in the United States” award, Northern Trust was recognized for its Global Family and Private Investment Offices (GFO). Founded in 1982, Northern Trust’s GFO group has a focused commitment to wealthy families, their private foundations and the family offices that serve them.
Among the oldest family office providers, GFO combines Northern Trust’s institutional strength technology, investment capabilities and global asset management platform with its heritage as a trustee and wealth manager. Around the world, the group works with more than 450 families in more than 30 countries. The average client size is US $ 900 million.
“We are honored to receive this award in recognition of the innovative financial services we provide to our family office clients,” said GFO President David W. Fox Jr. “Family offices have highly specialized needs that require a distinct service model, and we bring the best of Northern Trust’s resources to deliver our world-class capabilities.
The awards are part of the Global Private Banking Awards created in 2009 to recognize excellence in the wealth management industry by companies around the world. More than 170 banks in more than 60 countries submitted nominations for the award.
Northern Trust received the honors at a virtual event on November 3.
Northern Trust Wealth Management offers holistic wealth management services for high net worth individuals and families, family offices, foundations and endowments, and private businesses. It is recognized for its innovative technology, the excellence of its services and the depth of its expertise and ranks among the top 10 wealth managers in the United States, with $ 372.9 billion in assets under management as of September 30. 2021. The Northern Trust Company is a 50/50 lender. FDIC member.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset services, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2021, Northern Trust had assets under custody / administration of US $ 15.8 trillion and assets under management of US $ 1.5 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.