Private banks are increasingly being judged on how well they serve family offices and families with complex, multigenerational wealth. Northern Trust has been named Best Private Bank in the United States for the 15th time, and also took the US awards for family offices and for ultra-high-net-worth clients at the 2026 Global Private Banking Awards.
The awards are presented by Professional Wealth Management and The Banker, publications of the Financial Times Group. Northern Trust won top honours in three categories:
- Best Private Bank – United States
- Best Private Bank for Family Offices – United States
- Best Private Bank for Ultra-High-Net-Worth Clients – United States
Yuri Bender, Editor-in-Chief of Professional Wealth Management, pointed to Northern Trust's consistency in serving wealthy clients. He said the bank's expertise in managing the assets, expectations and business affairs of its wealthy clients was key to the judges' deliberations in the highly competitive US private banking market, and that by combining expertise in technology, alternatives and work with family offices into a cross-disciplinary offering, it provides a consistent service across a US patchwork of regions with different demands.
Serving families at different levels of complexity
According to Northern Trust, the family office and ultra-high-net-worth recognitions highlight its work with families facing different levels of wealth complexity.
Its Global Family Office group has advised wealthy families for more than 40 years, helping them manage investments, business interests and financial affairs that often span several generations and jurisdictions. Its expertise extends to private markets, succession planning and family governance, including helping families establish how decisions are made and how responsibilities are shared between generations.
For families whose wealth calls for that level of coordination but who do not have a dedicated family office, Northern Trust offers Family Office Solutions. A dedicated team works alongside a family's existing advisors to integrate investments, estate planning, reporting and other personalised services. The bank says the approach can be particularly valuable after a business sale, when families must make decisions about investing, transferring wealth and setting future plans.
Jason Tyler, President of Northern Trust Wealth Management, said the financial lives of wealthy families rarely get simpler, and that the bank's job is to understand how changes affect the entire family, not just the portfolio. He added that he is most proud of the confidence clients place in the firm's people, who are expected to understand their circumstances, challenge their thinking when appropriate and deliver advice that stands the test of time.
Northern Trust accepted the awards at an event in London on 5 November.
Northern Trust Wealth Management serves affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It had $536 billion in assets under management as of 30 September 2026.
Source: Northern Trust via Business Wire.
This post originally appeared here.
