Robin Vince talks M&A amid reports that his firm approached Northern. Why banks for the ultrarich are tough acquisition targets.

Northern Trust is fully committed to remaining independent, the bank said on Monday, after the Wall Street Journal reported that Bank of New York Mellon had approached the asset and wealth manager to express interest in a merger.

Northern Trust Corp. said it plans to remain a standalone company following a report that Bank of New York Mellon Corp. approached it about a possible merger.