Northern Trust has appointed Angelo Manioudakis as chief investment officer of its $1.2 trillion asset management business, the firm announced Thursday.
Manioudakis will oversee Northern Trust Asset Management’s investment products, as well as spearhead the company’s investment policy committee. He will be reporting directly to Shundrawn Thomas, president of Northern Trust Asset Management.
Manioudakis is replacing Bob Browne, who served as Northern Trust’s CIO for 12 years and decided to retire in June, Thomas told Institutional Investor.
Manioudakis brings valuable expertise across multiple asset classes, Thomas said. In the future, Northern Trust will continue to focus on providing liquidity strategies, quantitative investment strategies, sustainable investment strategies, and multi-asset strategies.
“When we are thinking about our senior talents, we look for really strong technical confidence, which he clearly brings,” Thomas said. “But we also are very focused on leadership assets, and we think he is an excellent leader.”
Founded in 1889, Chicago-headquartered Northern Trust has expanded its global footprint to Canada, Europe, APAC, and the Middle East over its more than 130 years in operation. It generated $6.14 billion revenue and reported a 19 percent drop in net income last year.
“The practical reality in terms of what we’ve seen this year is actually a pretty robust rebound from different economic activities last year associated with the pandemic,” Thomas said.
Manioudakis has 32 years of experience in the financial services industry, including five years as the chief investment officer at Fidelity’s global asset allocation division, where he managed $500 billion in assets. In late 2019, he co-founded Lantern Harbor Investment Partners, a global alternative investment asset manager based in Boston.
Manioudakis holds a bachelor’s degree in finance from Bentley College and an MBA from Harvard Business School.
“Angelo has a proven track record of leadership in the investment management industry spanning three decades,” Thomas said in a statement announcing the hire. “His experience is ideally aligned with our investment philosophy centered on compensating investors for the risk they take in all market environments.”