Philadelphia, PA, October 24, 2017 — The Wharton Global Family Alliance (Wharton GFA), a world-leading forum for engagement between major global families with substantial resources and preeminent Wharton faculty, is pleased to announce a unique collaboration with Northern Trust’s Global Family and Private Investment Offices Group.
As the Wharton GFA Global Industry Partner for Financial Services, Northern Trust will support Wharton research and programs focused on multi-generational, multi-branch families and their businesses. Northern Trust will provide financial support to enable new research that will foster the longevity, harmony, and prosperity of families and their businesses. Wharton GFA will widen its dissemination of research to those who have a vital stake in these issues. Key topics relevant to family offices include wealth management and transfer, philanthropy, governance, technology, communications, operations, and education.
“This exciting new collaboration with Northern Trust supports Wharton’s distinctive commitment to family business on a truly global level,” said Geoffrey Garrett, Dean and Reliance Professor of Management and Private Enterprise. “Family firms make a crucial impact on the worldwide economy, and we are thrilled to work together with Northern Trust to the benefit of global families and society.”
“By collaborating with the Wharton GFA, Northern Trust will be able to provide our clients with the insights of leading global academics,” said David W. Fox Jr., president of Northern Trust Global Family and Private Investment Offices group. “We look forward to combining our shared focus on meeting the unique and complex needs of ultra-high net worth families and the family offices that serve them.”
Steven L. Fradkin, president of Northern Trust’s Wealth Management business added, “Wharton is one of the preeminent academic institutions in the worldwide business community. This relationship enhances our total Northern Trust client experience by providing our clients, across our overall Wealth Management practice, with access to industry leading research across multiple disciplines.”
“Northern Trust brings expertise and a unique perspective to the Wharton Global Family Alliance,” said Raphael (Raffi) Amit, Wharton’s Marie and Joseph Melone Professor and Professor of Management, who leads the Wharton GFA. “Together, we will enhance the marketplace advantage and the social wealth creation contributions of global families through thought leadership, knowledge transfer, and the sharing of ideas.”
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2017, Northern Trust had assets under custody/administration of US$9.7 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/disclosures
Northern Trust Wealth Management specializes in Goals Driven Wealth Management backed by innovative technology and a strong fiduciary heritage. Northern Trust Wealth Management is ranked among the top 10 U.S. wealth managers, with $284 billion in assets under management as of September 30, 2017, and a wide network of wealth management offices across the United States. The Northern Trust Company is an Equal Housing Lender. Member FDIC.
About the Wharton Global Family Alliance
The Wharton Global Family Alliance is a Wharton initiative that centers on a broad set of issues faced by global families that control substantial enterprises and resources. The Wharton GFA is globally recognized as the leading institution for the creation and dissemination of knowledge and practices of multi-generational families and their businesses. It seeks to foster the longevity, harmony, and prosperity of multi-generational, multi-branch families and their businesses. The Wharton GFA transcends boundaries to enable collaboration and effective communication between researchers and families for mutual benefit and for the benefit of society at large; it enables thought leadership, knowledge transfer and sharing of ideas, and best practices among influential families; it publishes in a range of leading academic and practitioners’ outlets cutting edge theoretical, empirical, and field research on key issues affecting families and their businesses; and it initiates, manages, and participates in global forums and conferences.
About the Wharton School
Founded in 1881 as the first collegiate business school, the Wharton School of the University of Pennsylvania is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. With a broad global community and one of the most published business school faculties, Wharton creates economic and social value around the world. The School has 5,000 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 participants in executive education programs annually and a powerful alumni network of 96,000 graduates.