By Katherine Hamilton
Wintrust Financial agreed to acquire Northern Trust's guardianship services business.
Chicago-based Wintrust said Monday it expects to close the deal later this year. Terms of the deal weren't disclosed.
Northern Trust's guardianship services are provided to individuals who are legally unable to manage their own affairs due to disability, age or incapacity. The courts appoint a corporate fiduciary to serve as a guardian and make decisions about financial matters.
The business has about $1.2 billion in assets under management. Its employees are expected to move to Wintrust once the deal closes.
Write to Katherine Hamilton at katherine.hamilton@wsj.com