Global wealth-management company Northern Trust has been named the best private bank in the United States by Professional Wealth Management and The Banker magazines, both publications of the Financial Times Group.
Northern Trust was recognized in the categories of Best Private Bank for Family Offices and Best Private Bank for Ultra-High-Net-Worth clients, which earned "highly commended" accolades. The bank was also awarded Best Initiative of the Year for its relationship-management technology.
“These awards reflect our continuous focus on innovation and our commitment to providing clients with a service experience beyond expectation,” Northern Trust Wealth Management President Steven Fradkin said.
“Northern Trust was lauded by the 15-strong judging panel for its excellence in U.S. private banking,”
Northern Trust Wealth Management provides wealth management services to individuals, families and business owners and manages $242 billion in assets.
“Key factors included the high quality of staff which the group is able to attract, excellent coverage of U.S. regions and a dedication to client relationships," Professional Wealth Management's editor-in-chief Yuri Bender said. "The implementation of technology which both boosts the strength of relationships between clients and bankers, while also enhancing the asset allocation process, was also worthy of note.”