Hunstad has played a pivotal role in shaping NTAM’s investment vision and philosophy, leading a global team of more than 300 professionals.

Northern Trust has appointed Michael Hunstad as president of Northern Trust Asset Management (NTAM), effective immediately, replacing Daniel Gamba. Hunstad will join Northern Trust’s management group and report to chief executive officer Michael O’Grady.

Since joining NTAM in 2012, Hunstad has served in a range of senior leadership roles including, most recently, as global co-chief investment officer. He was responsible for overseeing a suite of investment capabilities, including index, fundamental, quantitative and tax-advantaged strategies, as well as active, multi-asset class solutions and alternative investments. Hunstad has been important in shaping NTAM’s investment vision and philosophy, leading a global team of more than 300 professionals, Northern Trust said in a statement. In addition to these responsibilities, he serves on the asset management executive group, the investment policy committee, and the risk committee.

“After 25 years in the industry and a proven track record of driving growth and innovation, Mike is the ideal leader to guide us in navigating the complexities of today’s market,” O’Grady said. “His strategic vision and commitment to client success will not only enhance our asset management capabilities but also position us to deliver exceptional value to our clients and stakeholders. We thank Daniel Gamba for his contributions and wish him success in his future endeavors.”

Before joining Chicago-headquartered Northern Trust, Hunstad was head of research at Breakwater Capital and head of quantitative asset allocation at Allstate Investments.

He holds a PhD in mathematics, an MBA in finance, an MA in econometrics, and a bachelor's degree in economics.