CONSENT OF INDEPENDENT AUDITORS


We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 333-52652) pertaining to the Wintrust Financial  Corporation  Retirement
Savings Plan of our report dated August 19, 2002,  with respect to the financial
statements and schedule of Wintrust  Financial  Corporation  Retirement  Savings
Plan included in this Annual Report (Form 11-K) for the year ended  December 31,
2001.


                                             /s/ ERNST & YOUNG LLP

Chicago, Illinois
October 16, 2002