Northern Trust agreed to acquire institutional brokerage firm Aviate Global, both firms announced Wednesday.
Terms were not disclosed, said Doug Holt, Northern Trust spokesman.
Aviate will be merged into Northern Trust’s global brokerage business within its corporate and institutional services unit, Mr. Holt said. Aviate co-founders Guy Gibson and Gary Paulin, along with all Aviate employees, will become employees of Northern Trust.
Michael O’Grady, president of Northern Trust corporate and institutional services, said in a news release that the acquisition of London-based Aviate will expand Northern Trust’s brokerage business in Europe, the Middle East and Asia-Pacific.
The acquisition is expected to close in the first quarter of 2016, pending regulatory approvals.
