Tue. January 4, 2011
Chicago, IL -
Chicago-based investment management firm Northern Trust has created a new unit that will focus on helping lesbians and gays manage their money.
The so-called Lesbian, Gay, Bisexual, Transgender (LGBT) and Non-Traditional Family Practice will offer tax and wealth management services.
"Northern Trust recognizes the definition of family has evolved," John McGowan of Northern Trust said. "We have been helping LGBT clients develop wealth management strategies for decades and have the experience to deal with unique legal, tax and wealth transfer challenges. The creation of this group will help ensure our strategic focus will be executed more broadly across our network."
Northern Trust has a long-standing relationship with the gay community, and has supported Chicago's "Center on Halsted" and Lambda Legal. Gay and lesbian employees of Northern Trust have had access to domestic partner benefits for 13 years.
Northern Trust is a multi-national corporation, managing $657.2 billion in assets.
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