Trust co. rounds out staff for its upper Midwest private-client office. Northern Trust has added seven staff members to its Minneapolis Personal Financial Services (PFS) private-banking office. The Chicago-based trust company opened its Minnesota private-client office earlier this year with a staff of one. The new hires, some going back several months, are Lloyd Nelson, Jeffrey Lenihan, Frank Loomis, Dana Strong, Kathleen Strombeck, Jeffrey Huybrecht and Patricia Long.

“We are fortunate to have such highly experienced and deeply committed professionals serving our clients in the Twin Cities,” says John Bultena, president and CEO, Northern Trust Minnesota.

Nelson joined Northern’s Minneapolis private-client office as a senior relationship manager in October from U.S. Bank, where he’d spent about 20 years, most recently as a managing director of its private-banking unit.

Most since June

Lenihan, who became a wealth strategist with Northern in June, comes from Merrrill Lynch Investment Managers, where he was Midwest regional manager.

Trust relationship manager Loomis, another long-time U.S. Bank staffer, also joined Northern in June. He has a background in business development, personal-trust administration, investment portfolio management and compliance.

Strong started in June as well. A portfolio manager, he has a 20-year track record as an investment professional. His career included stints at U.S. Bank and U.S. Trust. He provides discretionary and advisory investment management services to fiduciary, personal and institutional investment clients in Minnesota.

Strombeck, a Chicago-based private banking relationship manager for Northern in the 1980s, rejoined the company late last spring. She serves private clients on the credit and deposit-product side.

Trust and investment associate Huybrecht and divisional assistant Long round out Northern’s private-client team in Minneapolis.

In other news out of Northern, the trust company opened a new private-client office in Boston late in October. Just before Thanksgiving, Northern named Sherry Barrat to co-lead its PFS division with William Morrison. Barratt had been chairman and CEO of Northern Trust Bank of California.

As of September 30, 2005, Northern PFS unit had $219.3 billion in assets under custody at the end of September, $113.8 billion of that managed by Northern Trust. The bank says its client roster make up 24%of Forbes magazine’s 400 wealthiest families. –FRW

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