Northern Trust Corp. recently announced that Stephen Potter has been appointed vice chairman and Shundrawn Thomas will take over from Potter as the president of asset management.
According to a press release, the two will begin their new roles Oct. 1.
Potter will be responsible for the supervision of worldwide strategic initiatives and client development.
“Steve’s vast experience working with key clients across all of our businesses and his ability to build enduring relationships are invaluable to us," Frederick Waddell, chairman and CEO, said in the release. “We will benefit from his focused efforts around growing our client relationships.”
Before joining Northern Trust, Thomas served as a vice president for Goldman Sachs and held positions in sales, trading and research with Morgan Stanley. He then served as president and CEO of Northern Trust Securities Inc. and head of corporate strategy for Northern Trust Corp. Currently, Thomas supervises the development, management and distribution of Northern Funds, Northern Institutional Funds and FlexShares Exchange Traded Funds, as well as related business activities. He is also responsible for managing the Managed Accounts practice.
"Shundrawn’s experience in developing long-term strategies, creating differentiated products, and developing and retaining talented professionals will help us continue to attract some of the largest, most sophisticated individual and institutional investors in the world,” Waddell said. “Our Asset Management business is one of the hallmarks of Northern Trust, with approximately $1 trillion in assets under management. I am pleased we have such a capable leader for this critical role.”
Thomas has a Bachelor of Science in accounting from Florida A&M University and an MBA from the University of Chicago Booth School of Business. He has Financial Industry Regulatory Authority series 7, 63 and 24 securities licenses.