“Northern Trust was a stand-out bank for the judges due to its innovative approach,” said Yuri Bender, editor in chief of PWM and a member of the seven member judging panel. “Not only has this US institution overhauled its asset allocation process since the crisis, recognising the shortcomings of modern portfolio theory, but it has extended its fiduciary model through deepening its relationships amongst both minority groups and non-traditional families. The judges were particularly impressed with Northern Trust's pioneering use of on-line social networking for family offices, allowing these clients to share their experiences.”
“We are delighted to receive these two awards, which address both our long tradition of outstanding client service and our investment process to meet clients’ needs,” said Sherry Barrat, president of Northern Trust Personal Financial Services. “We start that investment process with a clear understanding of our clients’ goals and tailor asset allocations to deliver on each of them. Additionally, our robust open architecture investment platform and world-class technology support clients in achieving their financial aspirations.”
The awards were presented by Professional Wealth Management and The Banker, at an October 28th ceremony in Geneva. Private banks and wealth managers worldwide entered the awards and winners were selected following examination of quantitative and qualitative aspects of the private banking/wealth management business.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2010, Northern Trust had assets under custody of US$3.9 trillion, and assets under investment management of US$657 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.
Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.
Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.
Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.
The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
The Northern Trust Company operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.
Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.