Chicago-based Wintrust Private Trust Company is acquiring the guardianship services business of Northern Trust Corporation, Chicago.
The deal is expected to close later this year. Terms have not been disclosed. Northern Trust’s guardianship services business has $1.2 billion in assets under management. Northern Trust has offices in nearly half of U.S. states, with locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, Northern Trust had $1.8 trillion of assets under management.
Wintrust Financial Corporation has $72 billion in assets, along with more than 200 retail branches through 16 community bank subsidiaries.
“Wintrust is well positioned to continue serving these clients with the focused attention this important business requires,” said Northern Trust Wealth Management President Jason Tyler.
