M and A
Northern Trust Buys Mid-West Investment Manager
Chicago-headquartered
Northern Trust is acquiring Lakepoint Investment Partners of
Cleveland, Ohio, an investment management firm with a client base
of individual investors, corporations, pension and retirement
programmes and foundations and endowments.
Lakepoint co-owners Mary Lynn Laughlin and Douglas Wang will join
Northern Trust as senior vice presidents in Cleveland. The firm’s
clients and staff will be integrated into Northern Trust.
With $586 million under management, Lakepoint invests
predominately in large capitalisation growth stocks and
investment-grade fixed income securities to balance growth,
preservation of capital and income.
