Northern Trust Announces Change in Asset Management Leadership

CHICAGO–(BUSINESS WIRE)–Northern Trust (Nasdaq: NTRS) today announced that Shundrawn Thomas, President of Northern Trust Asset Management, will be leaving the company on June 1, 2022 to pursue an outside entrepreneurial opportunity.

“On behalf of Northern Trust, I would like to thank Shundrawn for his outstanding contributions over his 18 years,” said Michael O’Grady, President and CEO of Northern Trust Corporation. “Shundrawn led with clarity, empathy and determination and served as an example for all of us. He not only embodied our enduring principles of service, expertise and integrity; he has also courageously challenged and guided us to evolve the way we live our principles in a more inclusive and equitable way.

Thomas joined Northern Trust in 2004 and has held several senior roles during his tenure, including as a member of the asset management leadership team since 2008 and as a member of the management group since 2017 .

Thomas said he made the decision to leave Northern Trust in order to co-found a new, diversifiedly owned and operated business that will provide debt and equity solutions to private US corporations. One of the main objectives will be to identify untapped market opportunities and build partnerships with women and economic operators of various ethnicities.

“Shundrawn has been a tireless champion of diversity, equity and inclusion – both at Northern Trust and in the asset management industry – and is a recognized leader in sustainable investing,” O’Grady said. “We support Shundrawn’s commitment to generating social impact, and we wish them nothing but continued success.”

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 23 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Visit us at northtrust.com. follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, registered office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Global legal and regulatory information can be found at https://www.northerntrust.com/terms -and-conditions.