USA’s Largest Personal Trust Company Names R. Hugh Magill to New Post
Building upon its 118-year fiduciary heritage, Northern Trust, the USA’s largest personal trust company and a leading provider of wealth management services for affluent individuals and families, announced today it has appointed R. Hugh Magill as National Director of Trust Services and Chief Fiduciary Officer for Northern Trust Personal Financial Services, a new position. Magill was named a Northern Trust Executive Vice President in 2006.
In this new post, Magill is leading the strategic direction of the company’s fiduciary business, which includes trust and estate administration, guardianship and philanthropic services. A key facet of that strategy will be continuous innovation and integration of Northern Trust’s financial and estate planning techniques with its broad array of investment management alternatives.
Recognized as a leading authority in his field, Magill has authored a number of papers on family business planning and post-mortem estate planning and fiduciary risk management. He is a frequent lecturer on estate planning and fiduciary topics at bar associations nationally, the Illinois Institute for Continuing Legal Education, Northwestern University’s Center for Family Enterprises, and the National Trust School, where he has served as a faculty member since 1996.
Magill will provide leadership to more than 200 trust professionals, while working closely with clients and their estate planning counsel, across all of Northern Trust’s 84 offices.
“An outstanding leader, Hugh has contributed greatly to the success of our trust business during his 18 year career with Northern Trust,” explained Sherry Barrat, president, Personal Financial Services, Northern Trust. “That’s precisely why we are so pleased that Hugh has accepted this new national role. Our fiduciary heritage is one of the cornerstones of our success and under Hugh’s direction we will continue to create comprehensive, customized and innovative financial solutions for successful individuals and families delivered with exceptional high-touch service and the highest standards and reputation in the business.”
Magill joined Northern Trust in 1989 after practicing law privately as an estate planner in Chicago. He holds a J.D. degree from the University of Minnesota Law School, where he was named a distinguished alumnus in 2005.
He is a member of the Chicago, Illinois and American Bar Associations and the Chicago Estate Planning Council. He is licensed to practice law in Illinois and Minnesota and admitted to practice before the Unites States Tax Court. Among his many civic and cultural responsibilities, Magill serves on the boards of the Creator Arts Center and the Block Museum of Art, is a member of the Site Council for the Gaylord Building of the National Trust for Historic Preservation, and a Scoutmaster with the Boy Scouts of America. He lives with his wife and three children in Winnetka, Illinois.
Northern Trust Corporation is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 84 offices in 18 U.S. states and has international offices in 13 locations in North America, Europe and the Asia-Pacific region. As of March 31, 2007, Northern Trust had assets under custody of $3.8 trillion, and assets under investment management of $756 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com/ .