GLOBAL - US asset manager Northern Trust Global Investments (NTGI) has made a number of key appointments in London and Chicago to expand its liability driven investment (LDI) capabilities.
As part of providing a global LDI solution, NTGI has appointed Clint Cary as LDI investment strategist, to develop customer liability -based investment solutions for pension plan sponsors.
He is an actuary and joins from Capital Strategies Group, where he was founder and vice president of the investment consulting firm. He is Chicago based.
Didier Haenecour has been named senior portfolio manager in the global fixed income team, to focus on clients whose investment strategies are based on their liabilities. He joins from M&G, where he managed assets for UK pension funds, as a senior portfolio manager. He is to be based in London.
Also London located is Simon Cohen, who has been appointed as senior pensions analyst to develop analytical tools to focus on pension funds' investment risks. He has been a senior actuary with Towers Perrin, advising pension funds on actuarial and investment issues.
Lee Freitag joins the LDI team as a product manager after 14 years in different roles at NTGI, where he most recently was an investment consultant in the group's wealth management operation. His will develop future enhancements to the range of solutions that the team provides. His base is Chicago.
Duane Rocheleau, head of the investment solutions said the group would execute and support complete LDI strategies that "include measuring, managing and monitoring the risk of client portfolios in the context of their underlying liabilities".
Elsewhere, Tom Casteleyn is transferred from the Bank of New York's London offices to Brussels, to strengthen the bank's Benelux presence. He moves to the newly created position of head of Benelux client management; formerly he was client executive in the London office.
"This new position reflects the bank's focus on the market potential of the Benelux," BoNY said in a statement.
Casteleyn will report to Frank Froud, head of client management Europe and to Paul Bodart, general manager.
Also, HSBC Actuaries and Consultants in the UK promoted three former senior consultants and actuaries to actuarial directors. Steve Hurren, Iain Tait and Hugh Nolan have been with the company for nine months.