Northern Trust has appointed Rick Fernandez as managing director and Xavier Martinez as senior portfolio manager for its wealth advisory team in Miami.

Fernandez has been working at Northern Trust in 2002. In the new role, he will manage a team that caters to high net worth clients and families with wealth management services such as investment management, trust, and banking solutions.

Martinez, who will report to Fernandez, joins from Coconut Grove Bank where he worked as the CIO. He previously worked for nine years at Fiduciary Trust International, with responsibility for overseeing high net worth client portfolios.

Commenting on the new appointments, Northern Trust senior market executive for Miami-Dade County Alexander Adams said: “These moves greatly strengthen our team, as Xavier brings to us deep expertise and experience in the precise type of clients we serve, while Rick’s extensive experience meeting our clients’ complex needs makes him extremely qualified to lead our talented team of professionals.”