Northern Trust Corp. of Chicago hired Alan W. Robertson to direct institutional product development for its investment management business.

Mr. Robertson joined the bank as a senior vice president, Northern said Friday. He reports to Stephen N. Potter, also a senior vice president, who is responsible for the institutional group of Northern Trust Global Investments.

Previously, Mr. Robertson was a principal at Louisville, Ky.-based Eager & Associates, where he spent four years as a consultant to institutional investment managers, including Northern Trust. Though Mr. Robertson helped Northern Trust launch its offshore mutual funds three years ago, he was recruited by a headhunter, Mr. Potter said.

Over the last year Mr. Potter has been responsible for product development. He said Northern, which will continue to favor cross-selling, is now exploring fresh prospects, especially overseas.

Northern Trust Global Investments manages more than $236 billion of assets.

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