Northern Trust Corporation : Northern Trust Appoints Bob Morgan to Lead Alternatives Group for Hedge Fund and Private Equity Investments
10/24/2011| 11:25am US/Eastern
Northern Trust announced today that Robert P. Morgan has been named to
lead a new unit, Northern Trust Alternatives Group, formed to develop
and manage all alternative investment products, including hedge and
private equity funds of funds, for institutional and personal clients.
Northern Trust Alternatives Group brings together portfolio management,
product, sales and service teams to build on the private equity and
hedge fund solutions that have been part of Northern Trust's
manager-of-managers business. Morgan, who had previously been Director
of Private Equity, oversees approximately $3.5 billion under management
or advisory as Managing Director of the new group.
"Alternative investment products have experienced substantial growth at
Northern Trust in recent years, and this new group is a clear sign of
our commitment to innovation and client service in this area," said
Stephen N. Potter, President of Northern Trust Global Investments.
"Under Bob Morgan, the Northern Trust Alternatives Group will be a
center of expertise for alternative investment solutions and products,
allowing us to capitalize on the strong demand for these capabilities
from our wide range of qualified investor clients."
Morgan has more than 20 years of financial industry experience and has
invested in more than 100 private equity funds covering the buyout,
venture capital, real estate and international markets. He sits on
several fund advisory boards and is a board member of the Illinois
Venture Capital Association. He received a BA in Economics from Wake
Forest University and an MBA from Emory University. He reports to Chief
Investment Officer Bob Browne.
"Northern Trust Alternatives Group presents an exciting opportunity to
bring our experienced hedge fund and private equity investment groups
together in a structure with strong operations support and enhanced
client service capabilities," Morgan said. "As client demand continues
to grow, we will address their sophisticated and customized needs with
multiple sector and fund capabilities that can be packaged to meet their
Northern Trust offers hedge fund-of-funds products and customized
portfolios that give investors exposure to multiple strategies and seek
competitive returns while containing overall portfolio risk. The private
equity program includes a series of private equity funds-of-funds and
customizable multiple-manager portfolios, with a mission to generate
returns while reducing risk through fund and sector diversification.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of
investment management, asset and fund administration, banking solutions
and fiduciary services for corporations, institutions and affluent
individuals worldwide. Northern Trust, a financial holding company based
in Chicago, has offices in 18 U.S. states and 16 international locations
in North America, Europe, the Middle East and the Asia-Pacific region.
As of September 30, 2011, Northern Trust had assets under custody of
US$4.2 trillion, and assets under investment management of US$644.2
billion. For more than 120 years, Northern Trust has earned distinction
as an industry leader in combining exceptional service and expertise
with innovative products and technology. For more information, visit www.northerntrust.com.
Northern Trust Corporation
John O?Connell, +1
Bickers, +1 312-444-3097
© Business Wire 2011