The Chicago-headquartered group has appointed a SVP to be director, business owning consulting, wealth management.

Northern Trust has appointed Robert Ashcroft as senior vice president and director of business owner consulting in wealth management. He is replacing John Honney, the bank told this publication.

This segment of Northern Trust provides owners and families experienced, objective advice whether they are still building their businesses or planning an ownership transition.  Succession planning, liquidity recapitalization, pre-sale planning and due diligence are among the areas of expertise within the practice.

Ashcroft has advised on more than 200 mid-market deals, including the sale of private companies based in the US and Europe.  He has also assisted management teams with buyouts, fundraising, and acquisitions. In addition, he has advised corporate executives on mergers and acquisitions.

Prior to joining Northern Trust, Ashcroft worked at PricewaterhouseCoopers for 12 years, where he worked in its Chicago and London offices. Previous to entering financial services, he was an engineer at BAE Systems. Ashcroft is a qualified chartered accountant (FCA) and holds FINRA Series 7 and 63 licenses. He earned a bachelor of engineering degree, with honors, from the University of Bath, and is a member of the Institute of Engineering and Technology.