John Hunt, a 25-year Northern Trust Corp. veteran, has left the bank to join a small money management firm in Chicago.
Mr. Hunt is one of four partners in Convergent Capital Management. Until last month he was a senior vice president at Northern Trust, responsible for corporate and institutional services at the Chicago-based bank.
Established in 1994, Convergent has $3 billion of assets under management.
It has four subsidiaries, including Matthews International Funds, a retail fund operation that markets its Asian funds through Charles Schwab & Co.'s OneSource fund program.
The other three subsidiaries are investment advisory firms, Mr. Hunt said.
Convergent plans to grow through acquisition and to eventually go public, he said. Mr. Hunt said it is likely that he will use his background to forge distribution relationships with banks.
At Northern Trust, Stephen N. Potter, senior vice president of global investments, said he has assumed Mr. Hunt's duties.