The Northern Trust Company, is expanding its private client and wealth management effort with a new office in New York City that will target the affluent and ultra-wealthy based in the Northeast corridor.

Northern Trust plans to open the Manhattan office in July at 65 East 55th Street to offer its current and potential clients a range of services to include private banking, trust, investment management, financial consulting and wealth advisory.

For the Wealth Management Group, the move marks the first time it has opened an office outside Chicago. Alison A. Winter, president -- Personal Financial Services -Northeast, noted in a prepared release that the firm is well-positioned for growth in the Northeast.

"Northern Trust's Affluent market reach and national office network within a 30-minute drive of 30 percent of the nation's millionaire population remain unmatched," she said.

John J. (Jeff) Kauffman has been named president -- Northern Trust Bank-New York, and he reports to Winter. He will head the New York office and oversee the Greater New York area.

Thomas V. Smith, Jr., has been named managing director/Wealth Management-Northeast, serving the Greater New York area, Boston, Philadelphia and Washington, D.C. He oversees all aspects of this business segment in the Northeast, including domestic and international new business development and client servicing. He reports to Steven R. Bell, Northern Trust's senior vice president and head of Wealth Management. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE