Carl Lingenfelter was named global manager of strategy for Northern Trust's asset servicing business. The position is new.
Mr. Lingenfelter will work with the firms worldwide operations and technology unit, product teams, client service and other business lines to lead product innovation and oversee capital investments, strategic partnerships, mergers and acquisitions, spokeswoman Kathleen Fitzgerald confirmed.
He was chief of staff and a pension trustee for the $1.4 billion Chicago Transit Authority Employee Retirement System, spokeswoman Rosa Rios confirmed. She declined to provide further information.
As of June 30, Northern Trust has $751.4 billion in assets under management.
Updated with correction