The wealth management unit of Northern Trust has hired a former director of PricewaterhouseCoopers to lead the Business Owner Consulting practice.
Robert Ashcroft will work with Northern Trust's wealth management experts whose clients are looking to identify a suitable investment bank to lead the sale of their business, Northern Trust said.
Ashcroft will replace John Honney who is preparing to leave Northern Trust in the very near future, a company spokesman said.
While at PricewaterhouseCoopers, Ashcroft advised on more than 200 mid-market deals, including the sale of private companies based in U.S. and Europe, according to Northern Trust. He also assisted management teams with buyouts, fundraising and acquisitions.
"Rob's expertise on issues of critical importance to business owners will be a tremendous asset in helping our clients achieve their goals," David Blowers, president of Northern Trust's Wealth Management National Services, said in a statement.
The firm's Business Owner Consulting practice helps owners of private businesses develop and execute succession and exit plans, Ashcroft noted in his LinkedIn profile. It also advises on "the merits of selecting suitable merger and acquisition advisers to assist with the sale of either 100% or a stake in their business," he said.
All services are coordinated with other wealth management experts to ensure that business, family and wealth plans are developed and aligned in a holistic manner, according to Northern Trust.
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