People Moves

Northern Trust Strengthens New York Wealth Advisory Team

Eliane Chavagnon Editor - Family Wealth Report June 11, 2015

Northern Trust Strengthens New York Wealth Advisory Team

The former national managing director of wealth management and global family offices at Bernstein has left the firm for a senior role at Northern Trust.

Northern Trust has recruited Paul Lee from AB Bernstein Private Wealth Management for a top post within its wealth advisory services group in New York.

In his previous role at Bernstein, Lee was national managing director of the wealth management and global family office group, also based in New York. It is unclear when it was that he left this role and if a successor has yet been named; the firm declined to comment when contacted by Family Wealth Report.

Chicago, IL-headquartered Northern Trust's wealth advisory services group provides high net worth clients with investment management, trust and banking solutions.

Lee has been named as a senior vice president and senior regional wealth advisor - a new role - reporting to John Hoffman, head of Northern Trust Wealth Management’s greater New York region. He has over 20 years of tax, estate planning and investment experience in the US and UK.

Earlier at Bernstein, he opened the firm’s first non-US private client office, in London. As managing director of the London private client sales group, he put in place the investment infrastructure for all of the firm's non-US private clients. (Click here for information about AllianceBernstein's new brand initiative unveiled in January.)

Lee began his career practicing law at various firms, eventually becoming a partner in the tax, estate planning and wealth protection group at Smith, Gambrell & Russell.

Northern Trust Wealth Management has $233.1 billion in assets under management as of March 31, 2015.

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