Family-owned businesses are intrinsically complex. Issues such as succession planning, structuring a board of directors, establishing risk management protocols or selling the company are complicated by the dynamics of dealing with family members who have entrusted their most important asset to your stewardship.
Northern Trust has more than 100 years of experience working with family businesses, providing management and strategic solutions for closely held corporations of all types, sole proprietorships and general and limited partnerships.
We offer a wide range of fiduciary services, including:
Should your family business become a family enterprise due to its sale, count on Northern Trust to seamlessly handle the shift in focus, taking into consideration the collective needs of family members as well as new investment opportunities made possible by aggregating various family enterprise funds.
Working with you and your other advisors, we take a holistic approach to accurately assess how we can best serve you. Whether you are seeking professional advice or assistance with a family business issue, experts in our Family Business Services group will help you effectively and efficiently find the right solution.
Kevin M. Harris is a Senior Vice President at The Northern Trust Company, Chicago. He is the Managing Director of the Family Business Group which consists of a team of professionals who manage, value, advise and act in officer and director capacities for closely-held entities held by Northern Trust in either an advisory or fiduciary capacity.
Mr. Harris has extensive experience in income, gift and estate tax planning as well as the administration, management and governance of closely held business entities. Kevin serves in an officer and /or director capacity in a number of companies held in the Family Business Group’s portfolio which Northern Trust holds in a fiduciary capacity. He engages with business owners in addressing their needs and in developing strategies to assist them in achieving their goals.
Mr. Harris assists Northern Trust relationship managers in addressing the “family dynamics” that many times surround the ownership of closely-held businesses. He has also had hands-on involvement with overseeing the provision of advisory services to business owners including engagements addressing strategic planning, governance, business restructurings and the marketing and sale of closely held entities.
He joined Northern Trust in February 2005 after having spent 12 years in the Family Office industry. Most recently, Mr. Harris served in a CFO role for a first generation Family Office and held officer and director level positions in a number of its portfolio companies. He has hands-on experience working with companies ranging from start-ups to mid-size businesses including both organizations that are growing as well as those requiring “change-management.” Previously, Mr. Harris worked in public accounting including seven years with Arthur Andersen, Chicago.
Mr. Harris is a Certified Public Accountant and a CERTIFIED FINANCIAL PLANNER™ (CFP®)