Wintrust to acquire Northern Trust's guardianship business
Wintrust Private Trust Company, N.A., has agreed to acquire the guardianship services business of Northern Trust Corporation, which manages approximately $1.2 billion in assets. The transaction, expected to close later this year, involves the transfer of Northern Trust's guardianship team to Wintrust. Financial terms of the agreement were not disclosed.
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Wintrust Private Trust Company, N.A., has entered into an agreement to purchase the guardianship services business of Northern Trust Corporation. The transaction involves a business with approximately $1.2 billion in assets under management and is expected to close later this year. Terms of the transaction were not disclosed.
Guardianship services are provided to individuals legally unable to manage their own affairs due to disability, age, or incapacity. A corporate fiduciary is often appointed by courts to serve as a guardian or work alongside an individual guardian to make decisions regarding financial oversight and investment management. Northern Trust’s guardianship team is expected to move to Wintrust upon completion of the transaction.
Jason Tyler, President of Northern Trust Wealth Management, stated that Wintrust is well positioned to continue serving these clients with the focused attention the business requires. Mary Ann Korenic, Chief Executive Officer of Wintrust Private Trust Company, expressed that the acquisition cements Wintrust’s position as a leading provider of guardianship services in Chicago and surrounding counties.
Key Transaction Details
| Detail | Information |
|---|---|
| Buyer | Wintrust Private Trust Company, N.A. |
| Seller | Northern Trust Corporation |
| Business | Guardianship Services |
| Assets Under Management | $1.2 billion |
| Expected Closing | Later this year |
Wintrust Financial Corporation is a financial holding company with $72 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management, and banking services. As of March 31, 2026, Northern Trust had assets under custody/administration of US$18.6 trillion and assets under management of US$1.8 trillion.
How will this acquisition impact Wintrust's competitive positioning in the Chicago market against other regional trust providers?
What regulatory approvals are required before the transaction can close later this year?
Will Wintrust pursue further acquisitions to expand its guardianship services beyond the Chicago area?
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