Northern Trust Asset Management hired 13 quant specialists from APG Asset Management, following a decision by the Dutch pension fund manager to shutter its division.
APG has "stopped offering this product to its pension fund clients," a spokeswoman confirmed.
The move comes as earlier this year APG said it would now focus exclusively on investing money for the €552 billion ($571 billion) Stichting Pensioenfonds ABP, Heerlen, shifting away from running assets for other pension fund clients.
Personnel moving from APG to NTAM include quantitative researchers, portfolio analysts and quantitative developers, according to a news release from NTAM.
All roles will be based in Amsterdam and will start later in February. The hires are intended to enhance NTAM’s existing quantitative factor platform and accelerate diversification.
The new hires join NTAM’s quantitative strategies team under the leadership of Mark Sodergren, global head of quantitative strategies, and Guido Baltussen, international head of quantitative strategies.
Joiners include Maarten Smit as senior portfolio analyst. Smit was lead portfolio manager for quantitative equity strategies across developed and emerging markets at APG Asset Management
Gijsbert de Lange joined as an investment solution expert. De Lange was responsible for quantitative equity investment strategies across developed and emerging markets at APG.
“For more than 30 years, NTAM has been a pioneer in quantitative investment strategies,” said Angelo Manioudakis, NTAM’s global chief investment officer, in the news release. “Today we are building on our quantitative capabilities by welcoming talented new researchers, analysts, and developers to our global team. I am confident that NTAM’s expanded quantitative investment strategies team will continue to deliver impactful investment solutions to clients across the globe.”
NTAM has approximately $1.6 trillion in assets under management.
