Northern Trust Loses Head of Equity Strategy
Patrick Groenendijk has left the Chicago-based asset manager after being named global head of equity strategy in May.
Northern Trust’s top equity strategist has left the firm after less than a year in his role.
Patrick Groenendijk, global head of equity strategy, left the Chicago-based asset manager on March 31, according to a person with knowledge of the matter. A Northern Trust spokesman confirmed the departure, saying the firm hasn’t found a replacement. Groenendijk declined to comment.
The equities offerings at Northern Trust, which had $942 billion in assets under management at the end of last year, are focused primarily on factor-based strategies, which screen for such risk factors as value and quality to produce excess returns.
Groenendijk joined the firm in 2014, after nearly nine years as chief investment officer of Pensioenfonds Vervoer in the Netherlands. He was hired to build out Northern Trust’s outsourced CIO business, and in May, was appointed to lead the firm’s equities strategy.
Before joining Pensioenfonds Vervoer in 2005, Groenendijk was a client relationship manager in Amsterdam for Barclays Global Investors, and held roles at Dutch pension funds PME and ABP, according to his LinkedIn bio page. BlackRock bought Barclays Global Investors, the British bank’s fund management business, in 2009.