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Frederick H Waddell, Chairman and Chief Executive Officer, Northern Trust

Northern Trust acquires Waterline Partners

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Northern Trust has acquired Waterline Partners, a Los Angeles investment advisory firm serving affluent individuals and families.

Terms of the agreement were not disclosed.

"We are delighted to announce a strategic acquisition that will bolster both our West Coast presence as well as our capabilities for clients," says Northern Trust chairman and chief executive officer Frederick H. Waddell. "Waterline is highly regarded for its holistic approach to wealth management, making it an excellent fit with Northern Trust’s client-focused investment strategies."

Joining Northern Trust is Waterline’s founder, chief investment officer and managing partner Jeffery Coyle, and the entire Waterline team. Waterline has USD807m in assets under management.

"I am thrilled to join Northern Trust along with the Waterline team, and also to bring Northern Trust’s deep resources and fiduciary expertise to our clients," Coyle says. "We are very excited to offer our clients Northern Trust’s full range of banking, investment management and trust services."

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