Chicago-based financial holding company
Northern Trust has appointed Richard Barnett chief investment officer of personal financial services in the firm’s Western region, according to a press release issued earlier in the week.

Working out of Northern Trust’s Los Angeles office, Mr Barnett’s responsibilities will include managing investment policy, asset allocation, portfolio construction and client service for $12 billion in Western-based portfolios.

Mr Barnett first joined Northern Trust in 2002 as senior portfolio manager for the firm’s foundation and institutional advisory services group. He was later promoted to senior investment officer of the Los Angeles region.

Northern Trust has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of 30 September 2009 Northern Trust reported assets under custody of $3.6 trillion, and assets under investment management of $611 billion.