Daniel Gamba has been appointed president of Northern Trust Asset Management. He will join Northern Trust Corp.'s management group and report to the company CEO Michael O'Grady, according to a news release from Northern Trust Thursday.
Mr. Gamba replaces Shundrawn A. Thomas, who left the firm in June 2022 to launch a private equity firm.
Most recently, Mr. Gamba was managing partner, co-head of fundamental equities at BlackRock and a member of the company's global operating, portfolio management group executive and human capital committees, according to a BlackRock spokeswoman's email.
In his new role, Mr. Gamba will oversee Northern Trust Asset Management, which had $1.2 trillion of assets under management as of Dec. 31.
Mr. Gamba will join Northern Trust Asset Management on April 3 in the company's Chicago headquarters, said Doug Holt, a Northern Trust spokesman, in an email.
Mr. Gamba joins Northern Trust after a 22 year career at BlackRock.
Mr. Gamba will be replaced by Philip Vasan, who will assume Mr. Gamba's position while retaining his role as deputy head of BlackRock's portfolio management group, said Rich Kushel, senior managing director and head of the portfolio management group, in an employee memo obtained by Pensions & Investments Thursday.
Becci McKinley-Rowe will continue as co-head of fundamental equities, Mr. Kushel said in the memo. Mr. Kushel highlighted Mr. Gamba's effort co-founding and co-chairing the Somos Latinx Network, BlackRock's community of Latinx employees.
Mr. Gamba "has been instrumental in programming that has enabled new opportunities for Latinx talent across BlackRock," wrote Mr. Kushel in the memo.
"Daniel has been an accomplished and respected colleague on both the index and active sides of our business," Mr. Kushel said in the memo, adding "it comes at no surprise that one of our peers (Northern Trust) would reach out to him to be one of its next presidents."
BlackRock managed $8.6 trillion of assets as of Dec. 31.
Mr. O'Grady, Mr. Gamba's new boss, said in the Northern Trust news release that "Daniel has a unique set of experiences well suited for the continued growth of Northern Trust Asset Management, with a track record of delivering strong results."