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Article: Northern Trust Mapping Out Expansion in the Northeast.(Northern Trust Corp.)
- Article from:
- American Banker
- Article date:
- September 22, 2004
- Author:
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Northern Trust Corp. has expanded its personal financial services segment and is exploring opportunities to open more branches in the Northeast and to make acquisitions there.
"We have done both and will continue to look at all opportunities," said Steven Fradkin, the Chicago banking company's executive vice president and chief financial officer, in an interview Monday. "If you can find local companies deeply entrenched in that particular market, it makes sense to buy."
The personal financial services arm brings in 50% of Northern Trust's revenue, which was $2.14 billion in 2003, Mr. Fradkin said.
"We are within 30 minutes of 40% of million-dollar households," he ...