Northern Trust names 2 to new positions on outsourced CIO team
By Rick Baert | February 25, 2013 3:40 pm
Eric Peterson was named senior program manager for Northern Trust’s multimanager solutions team, its outsourced chief investment officer service, according to John O’Connell, spokesman.
The position is new. Mr. Peterson will work with defined benefit, defined contribution and Taft-Hartley retirement plan clients.
He was managing director of public markets in the trust investment group at Boeing Co., Chicago, where he helped implement a liability-driven investment strategy for its $49.3 billion pension fund.
Also appointed to the Northern Trust multimanager solutions team was Brian O'Hara as portfolio manager. He replaced Rosanna Menta, who left the firm, Mr. O’Connell said. Further details weren’t immediately available.
Mr. O’Hara was a portfolio manager for IBM Corp., Armonk, N.Y., with experience investing for both defined benefit and defined contribution plans. IBM had a combined $84.7 billion in retirement assets as of Sept. 30, according to Pensions & Investments data.
Charles Bickers, Boeing spokesman, was unable to provide information on Mr. Peterson’s replacement by press time. Doug Shelton, spokesman at IBM, said the company does not comment on personnel moves.
The Northern Trust team oversaw about $37 billion in assets under management and $40 billion in assets under advisory for institutional and wealth management clients as of Dec. 31. Mr. O’Connell said the moves were made because of anticipated growth in the business.