Kenneth Stemme was named director of hedge funds, a new position, by...

Kenneth Stemme was named director of hedge funds, a new position, by Northern Trust Global Advisors, Chicago. He will head the internal team that identifies and evaluates hedge funds for use within the firm's hedge fund-of-funds group. Mr. Stemme had been a managing director of the alternative investment unit at American Express Asset Management, Minneapolis. Information on his replacement wasn't available by press time.