Searches and Hires

Millennium Park picks Northern Trust to manage endowment assets

Millennium Park Foundation, Chicago, hired Northern Trust's foundation and institutional advisers practice as money manager of the foundation's endowment investments, said Scott Stewart, executive director, in an email.

The $34 million foundation issued an RFP because the foundation wished to partner with a Chicago-based financial institution "more in tune with the Chicago philanthropic community," Mr. Stewart said.

Northern Trust replaces J.P. Morgan Asset Management (JPM), which was not asked to rebid.