Northern Trust has been named Best Private Bank in the USA for the fifth consecutive year by Professional Wealth Management and The Banker magazines, both published by the Financial Times Group. Northern Trust, a leading provider of financial services for institutions, affluent individuals and families, also was named Best Private Bank for Innovation.
"We are honored by these awards, which reflect Northern Trust's deep commitment to innovation in how we serve our clients," Northern Trust Wealth Management President Jana Schreuder said. "We will continue to focus our efforts around supporting the increasingly complex needs of our clients in financial planning, investments, wealth transfer, banking and more."
The awards were presented by Professional Wealth Management and The Banker at a ceremony in Geneva, Switzerland. An international panel of industry professionals judged the submissions and selected winners based on an examination of quantitative and qualitative factors.
"While Northern Trust demonstrated strong new money flows and profit growth, the judges were impressed by its constant self-analysis and clear statements of purpose," said PWM Editor in Chief Yuri Bender, one of the judges. "Also important were the technological improvements which the bank has introduced for private clients. Portfolios are designed reflecting regular communication with clients, and recognizing shortfalls of accepted but flawed practices such as Modern Portfolio Theory."
Northern Trust is a premier wealth management firm that specializes in goals-based financial advice, offering clients insightful perspectives and creative thinking, backed by innovative technology and a strong fiduciary ethos. Northern Trust is ranked among the top 10 U.S. wealth managers with $212 billion in assets under management as of September 30, 2013, and has a wide network of wealth management offices across the United States and abroad.
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 18 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2013, Northern Trust had assets under custody of US$5.2 trillion, and assets under investment management of US$846.2 billion. For more than 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 or follow us on Twitter @NorthernTrust.