Harris acquires Northwestern Trust - Another example of jockeying for the HNW market

Harris Acquires Northwestern Trust CHICAGO The Harris today announced that an expanded array of investment management solutions will be available to clients in the Pacific Northwest through both the acquisition of Seattle-based Northwestern Trust and the opening of The Harris integrated wealth management office in Bellevue, Washington. Harris has reached a definitive agreement to purchase Northwestern

Harris Acquires Northwestern Trust

CHICAGO– The Harris today announced that an expanded array of investment management solutions will be available to clients in the Pacific Northwest through both the acquisition of Seattle-based Northwestern Trust and the opening of The Harris integrated wealth management office in Bellevue, Washington.

Harris has reached a definitive agreement to purchase Northwestern Trust and Investors Advisory Company, subject to approval by regulators and Northwestern Trust shareholders.

This acquisition combined with the new Bellevue location will provide clients with access to The Harris family of wealth management services – direct investing, full-service investing and private banking. The Harris has offered direct investing through Harris InvestorLine, or predecessor companies, in Seattle since 1972.

"Our strategy is to expand our integrated suite of wealth management products and services across the United States in fast-growing urban areas, building on the strong Harris brand," said William Downe, Deputy Chair, Bank of Montreal. "The expanded capabilities available in our new offices and the addition of the professionals at Northwestern Trust allow us to provide more clients with comprehensive solutions in an increasingly complex financial world."

Founded in 1969 and privately owned since 1993, Northwestern Trust has more than $3 billion in assets under administration. Northwestern Trust is dedicated to serving the fiduciary and investment management needs of individuals, families, foundations, and endowments in the Northwest.

"This is an excellent strategic fit for Northwestern Trust and its clients," said David C. Williams, President and CEO of Northwestern Trust. "The Harris shares our commitment to personal, innovative, local client service, and we are excited to offer a comprehensive array of sophisticated and integrated wealth management services." Williams will assume the role of Regional President for Harris Trust Company. The Harris family of wealth management solutions includes:

• Harris Private Banking, providing banking, financial planning, trust and asset management services to affluent clients.
• Harris AdvantEdge Investing, assisting clients in evaluating investment goals and developing customized investment programs that are fee-based.
• Harris InvestorLine Inc., giving self-guided investors the ability to trade online, by telephone or in person at competitive rates.

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