Northern Trust Corp. announced that it has added two portfolio managers to the tax-advantaged equity portfolio management team at its global investments unit.
Michael Liao and Peter Zymali are to be responsible for several quantitative equity strategies specializing in tax-advantaged investments.
Mr. Liao joined Northern Trust from World Asset Management, a subsidiary of Comerica Inc., where he was a portfolio manager and quantitative analyst. He succeeds Jake Weaver, who has moved to a post at Northern Trust's international index group in London.
Mr. Zymali, who assumes a newly created post, was a consultant in Northern Trust's investment consulting services division within the wealth management group.
Northern Trust's global investments unit's tax-advantaged equity portfolio has more than $12 billion of assets under management across 20 benchmarks and custom mandates and seven marketed composites, as of Sept. 30..
It has had 45% growth at an annual rate for the past four years, with assets coming from both private individuals and institutional investors.
As Northern Trust's multi-asset-class investment management business, it includes Northern Trust Investments NA, Northern Trust Global Investments Ltd., Northern Trust Global Investments Japan KK, the investment advisory division of Northern Trust Co., and Northern Trust Global Advisors Inc. and its subsidiaries.
Northern Trust, which is based in Chicago, has 85 offices in 18 states and international offices in 13 countries in North America, Europe, and the Asia-Pacific region.
It had $4.1 trillion of assets under custody and $761.4 billion under management as of Sept. 30.
The company announced the hirings on Tuesday.
