Bob Parise was named practice lead, public funds and Taft-Hartley plans at Northern Trust Asset Management, said spokesman John O’Connell.
It is a new position. Mr. Parise will help formulate business strategy and work on providing the institutional group’s public and Taft-Hartley clients with equity, fixed-income and alternative strategies.
He reports to John Abunassar, head of institutional sales and distribution for North America.
Previously, Mr. Parise worked for J.P. Morgan Asset Management’s defined benefit channel. His responsibilities will be assumed by Joe Steccato, whose new title is national sales manager for JPMAM’s DB channel, a JPMAM spokeswoman said.
Northern Trust Asset Management had $900 billion in assets under management as of March 31.