Northern Trust Announces Leadership Changes in Southwest Region
* Reuters is not responsible for the content in this press release.
Steve MacLellan Named Regional CEO David Highmark to Lead New National Professional Athletes Division CHICAGO, April 29 /PRNewswire-FirstCall/ -- Northern Trust announced today that Steve MacLellan has been appointed Chief Executive Officer for the company's personal financial services business in the Southwest region. MacLellan succeeds David Highmark, who has been named Managing Director of a newly formalized national Professional Athletes Division. The division will focus on the financial needs of athletes, coaches, sports agents and franchise executives. Most recently Northern Trust's National Director of Wealth Advisory Services based in Chicago, MacLellan will relocate to Arizona and report to Personal Financial Services co-president Sherry Barrat. Based in the Phoenix office, Highmark will continue to serve as Vice Chairman of Northern Trust, N.A., in addition to leading the new national athlete division. "Under Dave's leadership, Northern Trust's business in the Southwest region expanded in size and geographic reach, providing us with excellent opportunities to establish long-term relationships with affluent families and business owners. We are grateful for Dave's service and see great potential in his passion, focusing on our growing national sports practice," Barrat said. "Additionally, we are pleased to have Steve assume this important leadership role in the Southwest. As a wealth management professional for more than 25 years, Steve's in-depth understanding of our client base and his strong business development skills will serve to further our position as the premier wealth management firm." Prior to joining Northern Trust, MacLellan was Chairman and CEO of JPMorgan's Private Client Services business and a member of the JPMorgan Chase Executive Committee. A graduate of Arizona State University, MacLellan spent the first 12 years of his career in Arizona, which included managing Smith Barney's business throughout the state. Highmark has advised professional athletes and sports managers throughout his 24-year career at Northern Trust, having gained insight into the lives of athletes and their financial affairs while pitching for the Baltimore Orioles organization. In addition to serving as regional Chairman and CEO, he led the company's outreach efforts among the sports community. More than 300 professional athletes from around the country have utilized the firm's private banking, financial planning, investment management and trust and estate planning services. "At Northern Trust we understand that athletes and sports professionals need a specialized approach to wealth management. With relatively short careers, it's essential that they have a long-term plan in place to protect their financial security. Providing that financial stability allows athletes to focus on what matters to them most: playing the game," said Highmark. "In formalizing this offering, we plan to extend our reach in the sports community and continue to develop financial programs tailored to the unique wealth management needs of professional athletes." Highmark joined Northern Trust in 1985 as Vice President and Director of Commercial Banking in the company's Miami office and later served as President of the Naples, Fort Myers and Bonita Springs, Fla., offices before moving to the Southwest. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has a network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2009, Northern Trust had assets under custody of US$2.8 trillion, and assets under investment management of US$522.3 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com. SOURCE Northern Trust Corporation Cathryn Raia of Northern Trust Corporation, +1-312-444-3097, car11@ntrs.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters