Northern Trust Asset Management Picks Co-CIO for President

Michael Hunstad

Northern Trust Asset Management named Co-CIO Michael Hunstad as president, effective immediately, the firm announced Thursday. Hunstad succeeds Daniel Gamba, who had served as president since April 2023 but has left the firm for a new opportunity, according to a spokesperson for Northern Trust. Hunstad retains his duties as co-CIO.

Hunstad was named as co-CIO in May, sharing the role with former fixed-income chief Chris Roth. The duo succeeded Angelo Manioudakis. As president, Hunstad will report to Michael O’Grady, Northern Trust’s CEO.

“We are excited to have Mike step into the role of president of Northern Trust Asset Management,” O’Grady said in a statement. “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. His strategic vision and commitment to client success will not only enhance our asset management capabilities but also position us to deliver exceptional value to our clients and stakeholders.”

Hunstad, prior to his appointment as co-CIO of Northern Trust’s asset management business, was the firm’s CIO of global equities. He also had served as head of quantitative strategies, head of global equity strategy and head of quantitative research at NTAM.

He earned a bachelor of science degree in economics from Northern State University in South Dakota, an MBA from the Daniels School of Business at Purdue University in Indiana, a master of arts degree in economics and econometrics from the University of Illinois at Chicago, and a Ph.D. in applied mathematics from the Illinois Institute of Technology.