Company Story
In February 1931, it took courage, determination, and foresight to open a new stock exchange firm...and these were exactly the qualities that Wayne Hummer and George Barnes brought to their venture.
Both men were successful commercial bankers who saw, in the midst of the Great Depression, a remarkable opportunity for a service firm that could provide small and medium-sized banks with sound, long-term investment advice.
Joined by LaSalle Street veteran, Harry A. Baum, shortly thereafter, they articulated a business philosophy based firmly on integrity, quality, and dependability…a philosophy that quickly began to win them clients and friends. They established working relationships with banks throughout the Midwest; and, gradually, through referrals of their bank clients, they began to accept individual accounts.
After celebrating 50 years of serving individual investors, in 1981, Wayne Hummer Management Company, known today as Wayne Hummer Asset Management Company, was established to fulfill a client need for discretionary, fee-based, investment management services. The objective of the Management Company was to provide continuous portfolio supervision for investors who wanted both expert guidance and attentive service but lacked the time or expertise needed to manage their investments.
Recognizing the need to provide a full array of products and services to its clients, in 2002, Wayne Hummer merged with Wintrust Financial Corporation, a financial services holding company, headquartered in Lake Forest, Illinois with assets in excess of $9 billion. Wintrust's banking subsidiaries provide community-oriented, personal and commercial banking services. In total Wintrust Financial Corporation operates 15 distinct bank charters (listed below) and 80 banking facilities in Illinois and parts of Wisconsin.
Lake Forest Asset Management, the trust department for Wintrust banks, which was established in 1994 for the purpose of obtaining and exercising trust powers, became part of Wayne Hummer in 2004 and effected a name change to the Wayne Hummer Trust Company. Today, the Wayne Hummer Trust Company manages over $1 billion in assets and offers a full line of fiduciary services including trust and estate administration, investment management, individual retirement plans, and asset custody services. Wayne Hummer Trust Company also assists with financial, estate, and charitable planning.
By joining forces with Wintrust in 2002, Wayne Hummer was in the enviable position of offering its clients traditional banking products as well as investment services. Since the completion of the merger, our three divisions, Wayne Hummer Investments, Wayne Hummer Trust Company, and Wayne Hummer Asset Management Company combine with our banking affiliate to form a unique wealth management organization for our clients.
Over the last four years Wayne Hummer has added almost 23 branch offices located in our affiliated banking centers to better serve our clients. In 2006, we celebrated our 75th anniversary of providing trusted financial advice to our clients. While Wayne Hummer Wealth Management continually strives for growth in the future and investment opportunities for their clients, we remain rooted to the strong principles set forth by the founders: employing the highest standards of customer service, financial expertise, and professional ethics in helping our clients make sound investment decisions.
