Managing Director at Northern Trust in Chicago

Managing Director – GFO

The Client
Northern Trust is a Fortune 500 global financial institution that has been in continuous operation since 1889. With over 22,000 employees worldwide, Northern Trust is a trusted advisor to some of the world’s most successful individuals, families, and institutions. The firm delivers innovative financial services backed by a commitment to enduring principles of service, expertise, and integrity. Leveraging more than 130 years of experience and cutting-edge technology, Northern Trust supports clients in achieving their long-term financial goals through asset servicing, fiduciary expertise, investment management, and wealth advisory.

The Opportunity
Northern Trust is seeking a seasoned executive to serve as Managing Director – GFO (Global Family Office). This senior leadership position will oversee and direct an asset servicing/trust unit within the GFO business. The Managing Director will be responsible for strategic planning, team leadership, operational excellence, and client satisfaction. This role involves managing a team of relationship managers and other professionals, ensuring alignment with client needs, and maintaining the highest standards of service. This is an outstanding opportunity for an executive with deep financial services experience to lead within a globally respected institution.

Location
United States (specific location flexible)

Reports to
Senior Executive Leadership – Global Family Office

The Position

Key Responsibilities

• Provide leadership, oversight, and strategic direction for the asset servicing/trust unit, ensuring best-in-class service delivery and client satisfaction.
• Develop strategic plans for the unit, align with broader business objectives, and manage execution and goal tracking.
• Manage staffing and performance management for the unit, including hiring, development, career planning, and compensation administration.
• Allocate client accounts to relationship managers based on client profiles and service needs.
• Support and guide Relationship Managers and Account Managers in the development of client strategies, plans, and service execution.
• Ensure full compliance with corporate policies, risk management, and fiduciary responsibilities.
• Foster a culture of communication, teamwork, collaboration, and high performance within the unit.
• Oversee complex and sensitive client relationships, and personally manage communications when needed.
• Drive business development by identifying market expansion opportunities and cross-sell potential; lead sales and COI efforts.
• Monitor expense management, budget performance, and resource planning.
• Collaborate cross-functionally with internal business units to increase overall efficiency and impact.

The Ideal Candidate

Qualifications:

• Minimum of 5+ years of leadership experience in financial services, ideally within asset servicing, trust, or wealth management.
• College or university degree required; advanced credentials (MBA, JD, CFA, etc.) preferred.
• Deep understanding of asset servicing, investment management, wealth advisory, and fiduciary frameworks.
• Proven ability to lead high-performing teams, manage through ambiguity, and develop talent.
• Strong sales acumen and experience with client development and relationship management.
• Excellent organizational and planning skills; strategic thinker with a focus on execution.
• High EQ and interpersonal effectiveness in managing internal and external stakeholders.
• Demonstrated ability to balance business goals with risk management, compliance, and client needs.

Compensation:
Salary range: $164,600 – $288,000 USD
This range is a good faith estimate of base pay. Northern Trust also offers a comprehensive benefits package, including:

• Retirement benefits (401k and pension)
• Medical, dental, and vision insurance
• Flexible spending accounts and disability coverage
• Paid time off, parental and caregiver leave
• Life and accident insurance
• Other voluntary and well-being benefits
• Discretionary annual bonus program, potentially including equity components

Working With Us
At Northern Trust, partners are empowered to grow professionally within a culture built on flexibility, collaboration, and purpose. With a long-standing commitment to diversity, equity, and community impact, Northern Trust offers the stability of a global financial leader with the opportunity to innovate and make a difference. We encourage mobility within the organization, value new ideas, and welcome individuals eager to shape the future of financial services.

Accessibility & Accommodation
Northern Trust is committed to providing reasonable accommodations to individuals with disabilities. If you require assistance during the application or interview process, please contact our HR Service Center at [email protected].

Interested?
We encourage you to apply and share your interests and experiences. Join us in building something greater. #MadeForGreater