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Front Page » Profile » Sheldon Anderson Heads Northern Trust Effort In Two States As Opportunities Loom In Foundations And Endowment Arena

Sheldon Anderson Heads Northern Trust Effort In Two States As Opportunities Loom In Foundations And Endowment Arena

Written by on January 27, 2011

After nearly 19 years with Northern Trust in Miami, Sheldon Anderson has seen the bank grow from 400 employees in the state to more than 700.

Now, as Southeast Regional CEO he’s responsible for all those, as well as the bank’s growing presence in Georgia.

Northern Trust focuses on a particularly attractive kind of client, the kind with more than $5 million in investable assets. Though it’ll work with those investing $1 million, the $5 million client is what Mr. Anderson called the bank’s "sweet spot.’

That demographic, however, isn’t only Northern Trust’s territory.

Several institutions, like JPMorgan Chase’s private bank, have entered the market, looking for clients with high net worth. Smaller, local banks also cater to wealthy individuals and families.

Mr. Anderson, however, said "this is nothing new" and that the bank has changed its strategy little to deal with competitors.

In the future, he continued, the bank sees significant opportunities in endowment and nonprofit management.

Mr. Anderson spoke with Miami Today staff writer Zachary S. Fagenson at Northern Trust’s Southeast headquarters on Brickell Avenue. To read this profile article in its entirety, subscribe to Miami Today’s E-paper. With the E-paper you will be able to read the entire contents of Miami Today online exactly as it appears in print. Or order this issue, to receive a regular printed copy of this week’s Miami Today. You may also subscribe to the printed edition of Miami Today to receive the newspaper every week by mail. If you are reading this in Miami Today’s “Online Archive” as an archived web page and would like to see the entire article that was published, call Miami Today, 305-358-2663 and ask for the Circulation Department.   Top Front Page About Miami Today Put Your Message in Miami Today Contact Miami Today © Copyright 2011 Miami Today designed and produced by Green Dot Advertising and Marketingvar gaJsHost = ((“https:” == document.location.protocol) ? “https://ssl.” : “http://www.”);document.write(unescape(“%3Cscript src='” + gaJsHost + “’ type=’text/javascript’%3E%3C/script%3E”));var pageTracker = _gat._getTracker(“UA-4990655-1”);pageTracker._initData();pageTracker._trackPageview();