CHICAGO--(BUSINESS WIRE)--Northern Trust announced today that it has named Kendall Kay National Director of Foundation and Institutional Advisors, an investment advisory and asset servicing group focused on middle-market non-profit institutions such as foundations, endowments, schools and healthcare organizations.
The practice offers guidance in developing investment policy statements and provides objective research, selection and oversight of third-party investment managers. The group primarily serves as lead investment advisor, trustee and custodian for organizations with assets ranging from $10 million to $250 million that typically do not have in-house investment professionals. Clients include United Way of Metropolitan Chicago, CME Group Foundation, Tucson Medical Center and the Coca-Cola Scholars Foundation.
Kay is responsible for implementing a growth strategy that includes developing experienced service teams in the company’s Northeast, Southeast, Southwest and West regions. In recent years, the practice has established its most significant presence in the Midwest, led by Bob Dow, managing director of the Foundation and Institutional Advisory Services – Midwest region. Dow now reports to Kay.
“Northern Trust has a great opportunity to expand our foundation advisory service capability across the country due to our strong fiduciary heritage and experience managing counterparty risk,” said Senior Vice President Charlie Mueller. “Kendall understands the importance of transparency and due diligence within the non-profit community. Her leadership will help provide our growing client base with sound advice on investment management, asset servicing and planned giving services.”
With more than 25 years of industry experience, Kay previously served as a manager in Northern Trust Global Investments, serving global institutions, large foundations and healthcare institutions.
“Northern Trust’s offering to small to mid-size institutions is geared specifically towards their unique asset servicing and asset management needs,” said Kay. “In serving large global institutions for more than a century, Northern Trust has more than a century of experience working with philanthropic-minded families, and is positioned to leverage institutional scale technology, risk management and investment platforms to benefit nonprofit organizations that play a vital role in our communities.”
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2010, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$643.6 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.