01—Abstract
Summary
Summary of the 8-K filed September 3, 2025. Cited figures are marked; the original filing is the authoritative source.
On September 3, 2025, Northern Trust Corporation announced that Michael Hunstad has been appointed President of Northern Trust Asset Management (NTAM), effective immediately, replacing Daniel E.
Gamba. The filing reports this change under Item 5.02 (departure of directors or certain officers; appointment of certain officers). Hunstad will join Northern Trust's Management Group and report to Chief Executive Officer Michael O'Grady.
The filing describes Hunstad as having held a range of senior leadership roles at Northern Trust since joining NTAM in 2012, most recently as Global Co-Chief Investment Officer. In that role he oversaw index, fundamental, quantitative, tax-advantaged, active, multi-asset class and alternative investment strategies, leading a global team of more than 300 professionals. Before Northern Trust, he was head of research at Breakwater Capital and head of quantitative asset allocation at Allstate Investments.
O'Grady thanked Gamba for his contributions and said Hunstad's leadership is intended to enhance the asset management capabilities. The filing is a leadership transition notice and contains no financial results or guidance. As of June 30, 2025, the company stated it had assets under custody/administration of US$18.1 trilliona and assets under management of US$1.7 trillion.
02—Key points
Key Highlights
- Michael Hunstad appointed President of Northern Trust Asset Management (NTAM), effective immediately, replacing Daniel E. Gamba
- Hunstad joined NTAM in 2012 and most recently served as Global Co-Chief Investment Officer
- In his prior role, Hunstad led a global team of more than 300 professionals across index, fundamental, quantitative, tax-advantaged, active, multi-asset and alternative strategies
- Hunstad will join the Management Group and report to CEO Michael O'Grady
- Hunstad previously held roles at Breakwater Capital (head of research) and Allstate Investments (head of quantitative asset allocation)
- As of June 30, 2025, assets under custody/administration were US$18.1 trillion and assets under management were US$1.7 trillion
03—Questions
Frequently Asked Questions
Who is replacing Daniel Gamba as President of Asset Management?
Michael Hunstad, who has been at Northern Trust since 2012 and most recently served as Global Co-Chief Investment Officer, was appointed President of Northern Trust Asset Management, effective immediately on September 3, 2025.
To whom will the new asset management president report?
Hunstad will join Northern Trust's Management Group and report to Chief Executive Officer Michael O'Grady.
What is Hunstad's background?
The filing says Hunstad holds a Ph.D. in mathematics, an MBA in finance, an M.A. in econometrics and a bachelor's degree in economics. Before Northern Trust, he was head of research at Breakwater Capital and head of quantitative asset allocation at Allstate Investments.
Does this filing include financial results or guidance?
No. The filing covers only the leadership change. It reports the company's assets under custody/administration (US$18.1 trillion) and assets under management (US$1.7 trillion) as of June 30, 2025, as background in the press release boilerplate.
04—Continue