Northern Trust Asset Management Strengthens OCIO Team

Apr 7 2016 | 6:59pm ET

Close on the heels of John McCareins’ appointment as head of asset management in Asia Pacific, Northern Trust Asset Management has named his successor to be 16-year Northern Trust executive Jessica Hart.

Hart was named retirement practice lead in Northern Trust AM’s Outsourced Chief Investment Officer (OCIO) business, according to a statement. She takes command of a team that manages some $60 billion in global multi-asset programs for defined benefit pensions and defined contribution retirement plans. 

Hart joined Northern Trust in 2000 and served in a variety of senior roles, including leading global fund construction for the multi-manager solutions group and most recently as global head of manager research and fund management. She is co-manager of nine multi-manager mutual funds in the Northern Funds family. Prior to joining Northern Trust, Hart worked in the financial and commodities risk consulting group of Arthur Andersen LLP.

“We are pleased to add…experienced leadership to the OCIO business, where we are winning new clients on the basis of our global investment platform, dedicated client service teams and the financial strength and integrity of Northern Trust,” said Joseph McInerney, head of multi-manager solutions at Northern Trust Asset Management, in a statement. “Jessica Hart’s close collaboration with the Retirement team on portfolio design, manager research and client service will ensure a seamless transition for those clients.”

Chicago-based Northern Trust Asset Management, one of the world’s largest OCIO providers, won 11 new outsourcing clients in 2015 and three in the first quarter of 2016, according to the company. The firm is a leading provider of multi-manager investment solutions, with $58.2 billion in assets under management and approximately $40.7 billion under advisement as of December 31, 2015.

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