Northern Trust nabs Citi and BNY veterans in continuing Northeast push

Northern Trust Wealth Management, the private bank arm of Northern Trust, has drawn two senior private bankers from rival firms in a continuing bid to capture wealthy client relationships in New York and Connecticut.

Beth Emswiler, who will be based in New York, was previously head of investments for Metro New York at Citi Private Bank. Andrew Borner, based in Greenwich, Connecticut, was most recently BNY's market president for Connecticut and Long Island.

Both have joined as senior managing directors, the firm said Monday.

The appointments are the latest in a run of Northeast additions under Katie Nixon, who was appointed region president in December after serving as chief investment officer of the firm's private wealth business since 2012. She was succeeded in the CIO role by Eric Freedman.

"Clients expect us to understand both the complexity of substantial wealth and the personal goals it supports," Nixon said. 

"Beth brings considerable investment experience, while Andrew has spent his career earning the trust of families," she said. "Together, they will help us bring the full breadth of Northern Trust to more clients."

At Citi, Emswiler oversaw investment solutions for ultra-high-net-worth clients and family offices. Over a career of more than 30 years, she has held leadership posts in private banking, equities, sales and trading, capital markets and investment advisory.

Borner also has more than 30 years in the business. At BNY he was responsible for new business development. He worked directly with individuals, families, trusts and foundations to build and carry out investment and wealth plans.

Monday's announcement comes a week after the firm moved to add two senior hires to its Family Office Solutions team in New York. Northern Trust has spent roughly 18 months building that unit. which offers ultra-wealthy families family-office services without the cost of running their own.

Read more: Northern Trust names Beata Kirr as investment chief for global family office unit

In August, the firm also added Gloria Fieldcamp as senior lead relationship manager and James Le Rose as senior relationship manager in the Empire State. That same month, Northern Trust Wealth Management welcomed Candice Nakagawa as Family Office Solutions managing director for the West Region.

The wealth buildout also coincides with a broader leadership change at Northern Trust. Last week, the firm announced the upcoming retirement of Chief Financial Officer Dave Fox.

Fox will stay in the role through the end of the first quarter of 2027 while the company runs an internal and external search for his successor, according to Northern Trust. He joined the firm in 2012 after more than 25 years spent at JPMorgan.

"Dave has been a trusted and valued leader whose judgment, discipline and financial stewardship have strengthened Northern Trust," said Michael O'Grady, chairman and chief executive officer.

Northern Trust Wealth Management had $534 billion in assets under management as of June 30, while its parent company Northern Trust reported $20 trillion in assets under custody and administration and $2 trillion under management.