Northern Trust Asset Management Names Head of Global ETFs and Funds

Rhea-AI Summary

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets as of March 31, 2024, has appointed David Abner as Head of Global ETFs and Funds.

Abner, an ETF industry pioneer, will oversee NTAM’s mutual fund and ETF strategy, product management, capital markets, and treasury functions. NTAM manages over $230 billion in U.S. mutual funds and global ETFs. NTAM President Daniel Gamba highlights Abner's leadership as key to driving growth and innovation.

Abner brings extensive experience, including roles at Gemini Crypto Exchange and WisdomTree Asset Management. He will report to NTAM's Global Head of Product, Paula Kar, aiming to enhance NTAM's client investment solutions.

Positive

• $1.2 trillion in assets under management as of March 31, 2024.
• $230 billion in U.S. mutual funds and global ETFs.
• Appointment of industry pioneer, David Abner, as Head of Global ETFs and Funds.
• Abner's extensive experience with leading firms such as Gemini Crypto Exchange and WisdomTree Asset Management.
• Focus on innovation and client-centric investment solutions.
• Leadership praised by NTAM executives, indicating strong internal support.

Negative

• Potential integration challenges with new leadership.
• Risks of over-reliance on one individual's expertise.

David Abner, Pioneer of the ETF Industry, to Oversee NTAM ETFs and Mutual Funds

CHICAGO--(BUSINESS WIRE)-- Northern Trust Asset Management (NTAM), a leading global investment management firm with $1.2 trillion in assets under management as of March 31, 2024, announced today that David Abner is joining as Head of Global ETFs and Funds.

David Abner, Head of Global ETFs and Funds, Northern Trust Asset Management (Photo: Business Wire)

Abner will oversee NTAM’s mutual fund and ETF product strategy, research and development, product management, and capital markets, as well as fund services oversight and treasury functions. NTAM has more than $230 billion in assets under management in U.S. mutual funds and global ETFs, as of March 31, 2024. With differentiated solutions across all asset classes, NTAM’s mutual fund and ETF product strategy aims to anticipate and meet the investment needs of all clients.

“NTAM’s mutual funds and ETF are designed to provide best-in-class investment solutions for our clients, leveraging our decades of experience and a deliberate development process. As we innovate and continue to build our suite of funds, David’s proven leadership and deep expertise will help drive NTAM’s continued growth in this key area of our business,” NTAM President Daniel Gamba said.

Abner is a recognized industry leader in ETFs. Most recently, he was Global Head of Business Development at Gemini Crypto Exchange. Previously, Abner spent more than a decade with WisdomTree Asset Management in a number of leadership roles, including as CEO of WisdomTree Europe. Abner reports to NTAM Global Head of Product Paula Kar.

“David is a visionary leader in the ETF industry. As NTAM advances its mutual fund and ETF strategy, we are confident that David’s expertise in building new businesses will allow us to provide our clients with innovative and improved solutions to all of their investment needs,” Kar said.

Earlier in his career, Abner held leadership positions in ETFs at BNP Paribas and Bear Stearns & Co. He holds a master’s degree in management and policy analysis and a bachelor’s degree in economics and philosophy from the State University of New York at Stony Brook. He is the author of multiple books on ETFs and the recipient of lifetime achievement award from etf.com.

About Northern Trust Asset Management

Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with $1.2 trillion in assets under management as of March 31, 2024, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management in an effort to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2024, Northern Trust had assets under custody/administration of US$16.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612789291/en/

Europe, Middle East, Africa & Asia-Pacific Contact:

Camilla Greene

+44 (0) 207 982 2176

Camilla.Greene@ntrs.com



US & Canada Contact:

Joanne Zalatoris

+1 (312) 900-3462

Joanne.Zalatoris@ntrs.com

Source: Northern Trust Asset Management

FAQ

Who is the new Head of Global ETFs and Funds for NTAM?

David Abner has been appointed as the new Head of Global ETFs and Funds for Northern Trust Asset Management.

What are the assets under management for NTAM?

Northern Trust Asset Management manages $1.2 trillion in assets as of March 31, 2024.

How much does NTAM manage in U.S. mutual funds and global ETFs?

NTAM manages over $230 billion in U.S. mutual funds and global ETFs.

What will David Abner oversee at NTAM?

David Abner will oversee NTAM’s mutual fund and ETF strategy, product management, capital markets, and treasury functions.

What is David Abner's background?

David Abner has held leadership roles at Gemini Crypto Exchange, WisdomTree Asset Management, BNP Paribas, and Bear Stearns & Co. He holds degrees from the State University of New York at Stony Brook.

Who will David Abner report to at NTAM?

David Abner will report to NTAM's Global Head of Product, Paula Kar.