Sunitha C. Thomas was named co-head of the newly formed wealth client group of Northern Trust Asset Management, effective Dec. 1.
The position is new, a news release said. The firm has yet to announce the other co-head, a spokesperson said in an email.
Thomas will be responsible for leading the team that serves all of the asset management firm's wealth clients and strengthening its presence in the intermediary wealth management industry. She will report to Daniel Gamba, the president of NTAM.
"Northern Trust manages more than $350 billion for private wealth clients across individual securities, SMAs (separately managed accounts), mutual funds and ETFs, and Northern Trust has delivered value to these clients for more than 130 years," Gamba said in the news release. "We are excited to bring additional focus to private wealth clients from an asset management perspective, including the addition of Sunitha's strong investment capabilities and deep experience delivering innovative solutions to clients."
Thomas has worked at the firm since 2004 and most recently served as the senior vice president and regional senior investment officer of Northern Trust Wealth Management. The spokesperson said in an email that a successor for Thomas' previous role has not been named yet.
Based in Chicago, NTAM had $1.1 trillion in assets under management as of June 30.