Northern Trust is ramping up its wealth management business in the Northeast. It has named Randall S. Burkert, a 20-year Goldman Sachs veteran, managing director of Development for its Personal Financial Services, the bank's wealth management arm.

In the newly created position, Burkert will have direct oversight of new business development in the Northeast region. He will lead a team of seven wealth strategists, while personally developing new business himself, according to Dave Blowers, the firm's East region president and CEO. The wealth strategists, Blowers explained in a telephone interview, "work with wealthy families and individuals to develop solutions that make sense for their personal situation." They deliver "all manner of wealth management services," including private banking, financial planning and wealth transfer strategies.

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