Northern Trust (Nasdaq: NTRS) has appointed Michael Hunstad as the new President of Northern Trust Asset Management (NTAM), replacing Daniel Gamba. Hunstad, who has been with NTAM since 2012, previously served as the Global Co-Chief Investment Officer and was responsible for overseeing various investment capabilities. He played a crucial role in shaping NTAM's investment vision and philosophy and led a global team of over 300 professionals. Hunstad's appointment is expected to enhance the company's asset management capabilities and deliver exceptional value to clients and stakeholders.
Northern Trust Corporation, founded in Chicago in 1889, has a global presence with offices across the United States, Canada, Europe, the Middle East, and the Asia-Pacific region. As of June 30, 2025, Northern Trust had assets under custody/administration of US$18.1 trillion and assets under management of US$1.7 trillion.
Hunstad, who holds a Ph.D. in mathematics, an MBA in finance, an M.A. in econometrics, and a bachelor's degree in economics, brings with him 25 years of industry experience and a proven track record of driving growth and innovation.
It is worth noting that Daniel Gamba, the outgoing President of NTAM, has made significant contributions during his tenure, and Northern Trust wishes him success in his future endeavors. Following these announcements, the company's shares moved -0.68%, and are now trading at a price of $128.885. Check out the company's full 8-K submission here.
