Northern Trust Names New West Region President

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Northern Trust Names New West Region President

2025-06-30 21:01 Last Updated At：21:21

LOS ANGELES--(BUSINESS WIRE)--Jun 30, 2025--

Northern Trust Wealth Management has appointed Abel Montañez as President of the West Region. Montañez, who has nearly 25 years of financial services experience, will lead an integrated team that delivers investment management, trust and estate planning, private and business banking and financial consulting for clients.

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The West Region has seen decades of value creation in technology, entertainment, real estate and private equity. The client base represents both immense opportunity and increasing complexity—dynamics Montañez will oversee in his new leadership role.

“Abel has a strong command of how wealth is evolving—business owners preparing for exits, families launching offices and rising generations taking the reins,” Wealth Management President Jason Tyler said. “Abel’s experience and deep engagement in the region make him the right leader for Northern Trust. The Western states reflect the convergence of innovation, entrepreneurship and generational transitions. He will help capture this momentum and invigorate a region that is defining modern wealth.”

Montañez succeeds Marc Cosentino, who is retiring effective July 1. Cosentino’s career with Northern Trust spans three decades and numerous leadership roles. In addition to West Region President, Cosentino served as President of Northern Trust's Pacific Northwest and Northern California regions. He also served as Head of Client Advisory for GFO as well as Head of Public Entities & Institutions, Asset Servicing, North America.

Previously, Montañez was an Executive Vice President and Head of Private Banking & Wealth Management at City National Bank, a subsidiary of the Royal Bank of Canada. He spent the prior 14 years at Wells Fargo, serving as Regional Managing Director and Senior Wealth Advisor.

Montañez is a board member for Foothill Family Services, a nonprofit organization serving at-risk children and families in Southern California. He also serves on the corporate advisory board for the Marshall School of Business at the University of Southern California, where he received his MBA and BA. As an undergraduate, he was a member of the baseball team that won four consecutive conference titles and a Division I national championship.

Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise, with $446.9 billion in assets under management as of March 31, 2025. The Northern Trust Company is an Equal Housing Lender. Member FDIC.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

Buddhist monks and their dog captivate Americans while walking for peace

A group of Buddhist monks and their rescue dog are striding single file down country roads and highways across the South, captivating Americans nationwide and inspiring droves of locals to greet them along their route.

In their flowing saffron and ocher robes, the men are walking for peace. It's a meditative tradition more common in South Asian countries, and it's resonating now in the U.S., seemingly as a welcome respite from the conflict, trauma and politics dividing the nation.

Their journey began Oct. 26, 2025, at a Vietnamese Buddhist temple in Texas, and is scheduled to end in mid-February in Washington, D.C., where they will ask Congress to recognize Buddha’s day of birth and enlightenment as a federal holiday. Beyond promoting peace, their highest priority is connecting with people along the way.

“My hope is, when this walk ends, the people we met will continue practicing mindfulness and find peace,” said the Venerable Bhikkhu Pannakara, the group’s soft-spoken leader who is making the trek barefoot. He teaches about mindfulness, forgiveness and healing at every stop.

Preferring to sleep each night in tents pitched outdoors, the monks have been surprised to see their message transcend ideologies, drawing huge crowds into churchyards, city halls and town squares across six states. Documenting their journey on social media, they — and their dog, Aloka — have racked up millions of followers online. On Saturday, thousands thronged in Columbia, South Carolina, where the monks chanted on the steps of the State House and received a proclamation from the city's mayor, Daniel Rickenmann.

At their stop Thursday in Saluda, South Carolina, Audrie Pearce joined the crowd lining Main Street. She had driven four hours from her village of Little River, and teared up as Pannakara handed her a flower.

“There’s something traumatic and heart-wrenching happening in our country every day,” said Pearce, who describes herself as spiritual, but not religious. “I looked into their eyes and I saw peace. They’re putting their bodies through such physical torture and yet they radiate peace.”

Hailing from Theravada Buddhist monasteries across the globe, the 19 monks began their 2,300 mile (3,700 kilometer) trek at the Huong Dao Vipassana Bhavana Center in Fort Worth.

Their journey has not been without peril. On Nov. 19, as the monks were walking along U.S. Highway 90 near Dayton, Texas, their escort vehicle was hit by a distracted truck driver, injuring two monks. One of them lost his leg, reducing the group to 18.

This is Pannakara's first trek in the U.S., but he's walked across several South Asian countries, including a 112-day journey across India in 2022 where he first encountered Aloka, an Indian Pariah dog whose name means divine light in Sanskrit.

Then a stray, the dog followed him and other monks from Kolkata in eastern India all the way to the Nepal border. At one point, he fell critically ill and Pannakara scooped him up in his arms and cared for him until he recovered. Now, Aloka inspires him to keep going when he feels like giving up.

“I named him light because I want him to find the light of wisdom,” Pannakara said.

The monk's feet are now heavily bandaged because he's stepped on rocks, nails and glass along the way. His practice of mindfulness keeps him joyful despite the pain from these injuries, he said.

Still, traversing the southeast United States has presented unique challenges, and pounding pavement day after day has been brutal.

“In India, we can do shortcuts through paddy fields and farms, but we can’t do that here because there are a lot of private properties,” Pannakara said. “But what’s made it beautiful is how people have welcomed and hosted us in spite of not knowing who we are and what we believe.”

In Opelika, Alabama, the Rev. Patrick Hitchman-Craig hosted the monks on Christmas night at his United Methodist congregation.

He expected to see a small crowd, but about 1,000 people showed up, creating the feel of a block party. The monks seemed like the Magi, he said, appearing on Christ’s birthday.

“Anyone who is working for peace in the world in a way that is public and sacrificial is standing close to the heart of Jesus, whether or not they share our tradition,” said Hitchman-Craig. “I was blown away by the number of people and the diversity of who showed up.”

After their night on the church lawn, the monks arrived the next afternoon at the Collins Farm in Cusseta, Alabama. Judy Collins Allen, whose father and brother run the farm, said about 200 people came to meet the monks — the biggest gathering she’s ever witnessed there.

“There was a calm, warmth and sense of community among people who had not met each other before and that was so special,” she said.

Long Si Dong, a spokesperson for the Fort Worth temple, said the monks, when they arrive in Washington, plan to seek recognition of Vesak, the day which marks the birth and enlightenment of the Buddha, as a national holiday.

“Doing so would acknowledge Vesak as a day of reflection, compassion and unity for all people regardless of faith,” he said.

But Pannakara emphasized that their main goal is to help people achieve peace in their lives. The trek is also a separate endeavor from a $200 million campaign to build towering monuments on the temple’s 14-acre property to house the Buddha’s teachings engraved in stone, according to Dong.

The monks practice and teach Vipassana meditation, an ancient Indian technique taught by the Buddha himself as core for attaining enlightenment. It focuses on the mind-body connection — observing breath and physical sensations to understand reality, impermanence and suffering. Some of the monks, including Pannakara, walk barefoot to feel the ground directly and be present in the moment.

Pannakara has told the gathered crowds that they don't aim to convert people to Buddhism.

Brooke Schedneck, professor of religion at Rhodes College in Memphis, Tennessee, said the tradition of a peace walk in Theravada Buddhism began in the 1990s when the Venerable Maha Ghosananda, a Cambodian monk, led marches across war-torn areas riddled with landmines to foster national healing after civil war and genocide in his country.

“These walks really inspire people and inspire faith,” Schedneck said. “The core intention is to have others watch and be inspired, not so much through words, but through how they are willing to make this sacrifice by walking and being visible.”

On Thursday, Becki Gable drove nearly 400 miles (about 640 kilometers) from Cullman, Alabama, to catch up with them in Saluda. Raised Methodist, Gable said she wanted some release from the pain of losing her daughter and parents.

“I just felt in my heart that this would help me have peace,” she said. “Maybe I could move a little bit forward in my life.”

Gable says she has already taken one of Pannakara’s teachings to heart. She’s promised herself that each morning, as soon as she awakes, she’d take a piece of paper and write five words on it, just as the monk prescribed.

“Today is my peaceful day.”

Freelance photojournalist Allison Joyce contributed to this report.

Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.