NTRC Names New CEO, COO

May 8, 2002 (PLANSPONSOR.com) - The changing of the guard continues at Northern Trust, which has tapped Jana Schreuder as President and CEO of Northern Trust Retirement Consulting, replacing Dennis Sain, who is leaving the company to pursue other interests.

Schreuder, 43, was most recently Senior Vice President and head of the National Services for Northern’s Personal Financial Services (PFS) business unit in Chicago. Before that she was Northern’s E-Commerce Director and has also served as Head of U.S. Securities Processing Operations. She joined Northern Trust in 1980.

Sain joined Northern Trust in 1985 and held various leadership positions at NTRC prior to assuming the position of CEO in 2000.

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Other Moves

It was also announced that Thomas C. Slosar, Senior Vice President and Manager of Benefit Payments for The Northern Trust Company in Chicago, will relocate to Atlanta to assume the role of Chief Operations Officer at NTRC, reporting to Schreuder. Slosar has been with Northern for more than 30 years and has worked closely with NTRC over the past four years, according to Northern.

Steven R. Schneider, Senior Vice President and PFS Technology Manager, will assume Schreuder’s role as PFS Manager of National Services.

State Street Acquires Part of UK's Gartmore

July 17, 2001 (PLANSPONSOR.com) - State Street Corp has bought the passive equity arm of UK fund manager Gartmore for an undisclosed amount.

Gartmore’s passive equity business has about $25.33 billion in assets under management, too little to compete with specialist passive managers such as Merrill Lynch, and about 50 institutional clients, which will be transferred to State Street.

Following the sale Gartmore plans to focus on active fund management and will look at expanding through non-organic growth, dependent on US parent company, Nationwide Mutual’s asset management strategy, and will likely seek to grow its hedge fund business.
 
State Street Global Advisors, the fund management arm of State Street, will see its UK assets under management jump to £41 billion, of which £32 billion will be passively managed.

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Although it plans to grow assets under management in the UK by between 40% and 50% per year, State Street Global Advisors is unlikely to undertake further acquisitions in the UK, according to the group.


 

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