Northern Trust and Wintrust Financial announced that Wintrust Private Trust Company has entered into an agreement to purchase Northern Trust’s guardianship services business. The transaction is expected to close later this year, and financial terms were not disclosed.
The guardianship services business has approximately $1.2 billion in assets under management. Northern Trust’s guardianship team is expected to move to Wintrust upon completion of the transaction.
Guardianship services are provided to individuals who are legally unable to manage their own affairs due to disability, age, or incapacity. In these situations, a corporate fiduciary can be appointed by the courts to serve as guardian or work alongside an individual guardian.
The guardian may help make decisions tied to financial oversight and investment management. Wintrust said the transaction will expand its guardianship business and strengthen its position as a provider of guardianship services in Chicago and surrounding counties.
Wintrust Financial is a financial holding company with $72 billion in assets. The company operates more than 200 retail banking locations through 16 community bank subsidiaries across the greater Chicago, southern Wisconsin, western Michigan, northwestern Indiana, and southwestern Florida markets.
Northern Trust provides wealth management, asset servicing, asset management, and banking services to corporations, institutions, affluent families, and individuals. As of March 31, 2026, Northern Trust had $18.6 trillion in assets under custody and administration and $1.8 trillion in assets under management.
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“We believe Wintrust is well positioned to continue serving these clients with the focused attention this important business requires.”
Jason Tyler, President of Northern Trust Wealth Management
“We are pleased to expand our guardianship business and cement Wintrust’s position as a leading provider of guardianship services in Chicago and the surrounding counties. We look forward to welcoming Northern Trust’s experienced and talented guardianship team to Wintrust and to working together to deliver the excellent service these clients have come to expect.”
Mary Ann Korenic, CEO of Wintrust Private Trust Company
