Asset manager Davidson Investment Advisors has hired Steven Pines, formerly an institutional investment consultant with Northern Trust, to lead its institutional business-development efforts, including outreach to foundations and endowments.

"Steve`s experience in all aspects of business development will be a tremendous addition as we continue to expand our brand within the institutional community," says Davidson Investment Advisors's chief executive Andrew Davidson.

Pines has been working with institutional investors for 17 years. In addition to Northern Trust - where he advised public pension funds in the US and Canada - he has worked at Lehman Brothers Asset Management (formerly Lincoln Capital Management) and at CRA RogersCasey.

As one of the Davidson Companies, Davidson Investment Advisors is a sister firm to the broker-dealer D.A. Davidson.

Great Falls, Mont.-based Davidson Investment Advisors has offices in Seattle and San Francisco. It manages more than $1 billion in client assets.