Northern Trust, the Chicago-based investment manager, has opened a new private client office in Minneapolis. The firm said in a statement th...

Northern Trust, the Chicago-based investment manager, has opened a new private client office in Minneapolis. The firm said in a statement that the new office would serve affluent individuals, families and family offices in the city. John Bultena has been appointed head of the new office. Mr Bultena was chief executive of Dorsey & Whitney Trust Company, a subsidiary of the US law firm Dorsey & Whitney LLP, before joining Northern Trust. The move follows a substantial effort on the part of Northern Trust to beef up its high net worth business under its Northern Trust Personal Financial Services brand. It also represents a trend towards regional wealth managers in the US to broaden their coverage away from their regional hubs.