Northern Trust has lured a former wealth manager at PNC Bank to its wealth management office in Washington, D.C. Timothy P. Mertz joined Northern Trust as a senior private banker and relationship manager and will lead a three-person banking team that “provides clients with personalized deposit and credit solutions as well as commercial credit,” the bank said in a statement.
Mertz was previously a wealth management team leader for PNC Bank in Bethesda, Md., a position he held for three years. Prior to that, he held managerial and banking roles at Bank of New York Mellon and Bank of America for more than 20 years, according to Northern Trust.
Mertz comes onboard three months after Northern Trust hired Brian Heilman as a senior portfolio manager. The bank opened the Washington office in October to expand its wealth management business in the area.
In a statement, Joanie Stringer, managing director of Northern Trust’s Washington, D.C., office, noted that Mertz’s banking experience working with high-net-worth families makes him an ideal addition to the team.
Northern Trust is based in Chicago and has $175.9 billion in assets under management (as of June 30, 2012) and more than 70 offices across the United States and abroad.