Practice Lead, Commercial Real Estate Group (Finance)
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
Northern Trust Wealth Management ǀ Practice Lead, Commercial Real Estate Group
Northern Trust Wealth Management is seeking to hire an individual to lead its Commercial Real Estate Group.
The Commercial Real Estate Group consists of 11 professionals, certified property managers, licensed architects and real estate brokers. The team manages over 400 commercial real estate investments held in trusts or estates where Northern Trust has been named trustee or executor and therefore has landlord-level responsibility. Additionally, the team provides consulting services to Northern Trust clients on real estate matters such as portfolio strategy and transaction oversight.
Services that the Commercial Real Estate Group provides to clients with respect to commercial real estate investments include:
- Managing real estate directly and through oversight of third-party property managers
- Reviewing real estate investments annually to determine whether to retain or sell
- Evaluating new business opportunities for acceptance
- Developing budgets, capital improvement plans and investment strategies
- Negotiating and overseeing leasing and sale transactions in collaboration with brokers
- Overseeing construction projects and land planning
- Reviewing tax assessments and insurance coverage for appropriateness
Role and Responsibilities:
As Practice Lead of the Commercial Real Estate Group, the candidate will be responsible for overseeing all aspects of the group's operations, including:
- Defining the long-term growth strategy and annual business plans for the group
- Supporting new business development by evaluating new business opportunities and playing an active role in prospect and client meetings
- Marketing the group both internally to Northern Trust employees and externally to key industry groups, advisors and prospects
- Team staffing, hiring and training
- Operational processes and procedures for managing the group's portfolio of assets
- Risk management oversight of the portfolio, including interaction with other internal groups (Risk Management, Compliance, Audit, etc.)
- Ensuring consistent client service standards
- Helping with managing vendor relationships
- Serving as one of Northern Trust's real estate subject matter experts, including opportunities to participate in speaking engagements and writing articles for The Northern Trust Institute
The Commercial Real Estate Group is a national practice with a significant presence in Pasadena, California. The Practice Lead of the Commercial Real Estate Group will report to Northern Trust's Director of Business Services .
Knowledge / Experience:
- Significant (+15 years) experience in commercial real estate investing and/or asset management
- Familiarity and relationships with key players in the commercial real estate industry
- Leadership and management experience overseeing a team, business or division of a business
- Experience serving and advising sophisticated, high net worth families
- Ability to articulate the value of the group to a broad audience with varying levels of sophistication
- Experience reviewing and negotiating purchase, sale, financing and lease transactions for direct-owned commercial real estate assets
- Knowledge of managing real estate in the capacity of trustee and executor a plus
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
