Northern Trust Corp. of Chicago said it has hired Carl Lingenfelter, a pension trustee for the Chicago Transit Authority, as a manager of strategy for its corporate and institutional services division.
In the newly created role, Mr. Lingenfelter will work with Northern Trust's worldwide operations and technology unit, product teams, client service, and other business lines to oversee product innovation, capital investments, strategic partnerships, and mergers and acquisitions for the division.
In addition to being a trustee, he was the chief of staff for the Chicago Transit Authority.
Before that he had been staff director of the Illinois Governor's Office of Management and Budget. Earlier he had been a strategy consultant at McKinsey & Co. and Kissinger McLarty Associates.
Northern Trust, which announced the hiring last week, has 85 offices in 18 states and 15 countries in North America, Europe, the Middle East, and Asia. It had $4 trillion of assets under custody and $751.4 billion under management as of June 30.
