Article: Northwestern Mutual Receives OK to Form Trust Company; Glass Named Head of New Subsidiary, to be Operational Early Next Year.

MILWAUKEE, Aug. 14 /PRNewswire/ --

Northwestern Mutual today announced that its application for a limited purpose federal thrift charter has been approved by the Office of Thrift Supervision. The charter will enable the company to form Northwestern Mutual Trust Company, which is expected to be operational in January, 2001. Northwestern Mutual Trust will offer a full range of personal trust products and services, as well as investment management services, according to James D. Ericson, Northwestern Mutual's chairman and CEO.

"The estate market is a rapidly growing segment of our business," Ericson said. "Our policyowners have been asking us to provide ...

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