Northern Trust (Nasdaq: NTRS) has announced the appointment of Michael Hunstad as the new President of Northern Trust Asset Management (NTAM), effective immediately. Hunstad, who previously served as Global Co-Chief Investment Officer, will now lead the asset management business, replacing Daniel Gamba.
Hunstad's tenure at NTAM since 2012 has seen him take on various senior leadership roles, overseeing a wide range of investment capabilities, including index, fundamental, quantitative, and tax-advantaged strategies, as well as active, multi-asset class solutions and alternative investments. Notably, he has led a global team of over 300 professionals and played a pivotal role in shaping NTAM’s investment vision and philosophy.
Northern Trust's CEO, Michael O’Grady, expressed excitement about Hunstad's new role, highlighting his 25 years of industry experience and track record in driving growth and innovation. O’Grady emphasized Hunstad's strategic vision and commitment to client success, positioning him as the ideal leader to navigate the complexities of today’s market.
Before joining Northern Trust, Hunstad held key positions at Breakwater Capital and Allstate Investments. He brings a strong educational background, holding a Ph.D. in mathematics, an MBA in finance, an M.A. in econometrics, and a bachelor's degree in economics.
Northern Trust Corporation, founded in 1889, is a leading provider of wealth management, asset servicing, asset management, and banking. As of June 30, 2025, the company had assets under custody/administration of US$18.1 trillion and assets under management of US$1.7 trillion. The market has reacted to these announcements by moving the company's shares -0.05% to a price of $129.70. For the full picture, make sure to review NORTHERN TRUST CORP's 8-K report.
