Chicago-based Northern Trust has appointed Michael Hunstad as president of its asset management business.
He will replace Daniel Gamba, who led the business for around two and half years, as president of Northern Trust Asset Management.
Hunstad will join Northern Trust’s Management Group and report to Chief Executive Officer Michael O’Grady.
Since joining NTAM in 2012, Hunstad has held a range of senior leadership roles including most recently serving as Global Co-Chief Investment Officer.
In addition to these responsibilities, he serves on the Asset Management Executive Group, the Investment Policy Committee, and the Risk Committee.
“We are excited to have Mike step into the role of President of Northern Trust Asset Management,” said O’Grady. “After 25 years in the industry and a proven track record of driving growth and innovation, Mike is the ideal leader to guide us in navigating the complexities of today’s market.
“We thank Daniel Gamba for his contributions and wish him success in his future endeavours.”
Before joining Northern Trust, Hunstad was head of research at Breakwater Capital and head of quantitative asset allocation at Allstate Investments. He holds a Ph.D. in mathematics, an MBA in finance, an M.A. in econometrics and a bachelor’s degree in economics.
