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Press release content from Business Wire. The AP news staff was not involved in its creation.

Northern Trust Expands into Philadelphia, Announces Key Hires

November 25, 2019 GMT


Northern Trust, a leading provider of wealth management services, announced today that Michelle Hong and Melissa Novak, CFA, will co-head the firm’s local team and newly opened office in Philadelphia, providing wealth management services for clients in the Pennsylvania area. Both Hong and Novak will report to Mid-Atlantic Region President Brett Rees.

“We are delighted to welcome Michelle and Melissa to our talented team of wealth advisory professionals,” said Henry P. Johnson, East Region President for Northern Trust Wealth Management. “Their depth of expertise in advising ultra-high net worth individuals and families, coupled with their extensive experience in the Philadelphia community, positions them both well to co-head our team in this newly established office.”

Northern Trust opened its Philadelphia location at 2400 Market Street in October 2019. The expansion demonstrates the firm’s commitment to the market where it has served clients for many decades, and builds on its strong presence in the Mid-Atlantic region.

Hong joins from Brown Brothers Harriman, where she managed assets for more than 200 clients as a Senior Vice President of Private Banking. Named a “40 Under 40” professional by Philadelphia Business Journal, she was also a member of the firm’s Strategic Planning Committee for the Philadelphia region. Specializing in tax planning, estate planning, philanthropy and endowment management, Hong will contribute to Northern Trust’s fiduciary and advisory expertise, while driving the strategy for future business delivery. She will be a Senior Vice President of the firm and integral to Northern Trust’s national Wealth Advisory practice.

Prior to Brown Brothers Harriman, Hong was an associate at Morgan, Lewis & Bockius, where she counseled clients on state, federal, and international tax issues, estate planning, philanthropic giving, and managing private foundations. She earned a bachelor’s degree at Duke University, her law degree from Harvard Law School and served as a Law Clerk to Mary A. McLaughlin at the U.S. District Court’s Eastern District of Pennsylvania.

Novak will be a Senior Vice President at Northern Trust and on the Mid-Atlantic Investment Leadership Team. She joins from Hawthorn, PNC Family Wealth ®, where she was Senior Vice President and Senior Investment Advisor, managing in excess of a billion dollars for a select number of families and individuals. Novak started her career in portfolio management with City of London Investment Management, an emerging markets asset manager. She spent time at CSFB in their private wealth practice and at a single family office managing the family’s overall asset allocation, portfolio construction and a long/short trading strategy. She earned her bachelor’s degree from Dickinson College.

Novak has been awarded the Chartered Financial Analyst (CFA ® ) designation. She is a member of the CFA Institute, Secretary on the CFA Society of Philadelphia’s Board of Directors, and the Women’s Leadership Initiative. She serves on the board as the Treasurer for Career Wardrobe and is a member of the Dickinson College Regional Alumni Council.

Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise and ranks among the top 10 U.S. wealth managers, with $300.5 billion in assets under management as of September 30, 2019. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 21 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2019, Northern Trust had assets under custody/administration of US $11.6 trillion, and assets under management of US $1.2 trillion. For 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

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SOURCE: Northern Trust

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PUB: 11/25/2019 09:00 AM/DISC: 11/25/2019 09:00 AM