Northern Trust Corp. announced Tuesday it has promoted James D. McDonald to chief investment strategist.
In this newly created position, he will make strategic and tactical investment recommendations and communicate the Chicago company's investment strategy to individual and institutional clients.
Mr. McDonald had been director of equity research, overseeing a team of 17 research analysts.
He will retain his role on Northern Trust committees overseeing investment policy, private-equity investment, and tactical asset allocation, as well as serving as trustee of the NT Alpha Strategies Fund.
He will continue to report to Robert P. Browne, Northern Trust's chief investment officer, who said in a press release, "As we continue to face extreme volatility in the global economy, Jim's expertise will be instrumental in setting our course and communicating with clients the Northern Trust view of global market events."
Before joining Northern Trust in 2001, Mr. McDonald was director of research at ABN Amro Holdings NV in New York and Chicago.
Northern Trust has 85 offices in the United States and 15 international offices. It ended 2008 with $3 trillion of assets under custody, including $575.5 billion under management.
