Northern Trust Asset Management (NTAM) has promoted co-chief investment officer Michael Hunstad to president.
Hunstad joined NTAM in 2012 and was promoted to co-chief investment officer alongside Christian Roth in May, but has since been appointed as president of the asset manager, effective immediately.
NTAM said he will remain as co-chief investment officer with Roth on an interim basis.
As well as his existing role on the asset management executive group, investment policy committee and risk committee, the new role will also see US-based Hunstad join Northern Trust’s management group.
As president, he will be replacing Daniel Gamba and report to chief executive Michael O’Grady.
Gamba had worked as president at NTAM since 2023, having joined the asset manager after more than 20 years at BlackRock including as co-head of fundamental equities.
O’Grady said: “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.
“We thank Daniel Gamba for his contributions and wish him success in his future endeavors.”
With offices across 22 locations worldwide, NTAM has $1.8 trillion in assets under management as of 30 June 2025.
In June, NTAM appointed Pedro Guazo with the dual mandate of leading the asset manager’s business in Europe, the Middle East and Asia-Pacific, as well as its US$189 billion global responsible investing platform.
Guazo, most recently, was the chief executive of the $100 billion United Nations Joint Staff Pension Fund’s Office of Investment Management. During his five-year tenure, he transformed the fund, growing assets by nearly 60 per cent with an extensive buildout of a private markets program and diversifying the portfolio across several new asset classes.
