Michael Hunstad, executive vice president and head of Northern Trust Asset Management's $37 billion quantitative group, was appointed to also lead the firm's indexed and tax-advantaged equity teams.
Mr. Hunstad does not replace anyone as head of the teams, said Tom Pinto, a company spokesman, in an email.
He also was appointed a member of Northern Trust Asset Management's executive group, said a news release Tuesday.
"Mike's skill in efficient portfolio construction and risk management make him extremely well suited to foster even deeper collaboration among the three teams, thereby creating greater overall operational efficiencies," said Angelo Manioudakis, Northern Trust's CIO, in the release.
With the addition of the $608 billion of indexed equity assets and $90 billion in tax-advantaged equity strategies, Mr. Hunstad now oversees about $735 billion in assets. He reports to Mr. Manioudakis.
Assets under management by Northern Trust Asset Management totaled $1.3 trillion as of Dec. 31.
