Northern Trust Corp., a Chicago-based provider of investment management, financial planning, fiduciary, and banking services for affluent individuals, families, and family offices, said Monday that it has established Northern Trust Co. of Delaware.
Daniel F. Lindley was named president of the Delaware trust unit. Before joining Northern Trust, he was the principal author in 1997 of the state's Qualified Dispositions in Trust Act, an asset protection trust statute, and of 1995 legislation repealing Delaware's rule against perpetuities.
The Delaware limited-purpose trust company is intended to give clients the advantages of Delaware trust law. Delaware imposes no state tax on income accumulated in and capital gains earned by irrevocable trusts for nonresident beneficiaries.
