Northern Trust Asset Management Strengthens Investment Stewardship Capabilities

Northern Trust Asset Management (NTAM), a leading global investment management firm with $1.2 trillion in assets under management as of June 30, 2024, announced actions to further strengthen its investment stewardship capabilities: appointing Paul Clark as Global Head of Stewardship, and unveiling the phased rollout of proxy voting choice.

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Paul Clark, Global Head of Stewardship, Northern Trust Asset Management (Photo: Business Wire)

“We believe effective investment stewardship helps protect and enhance the assets our clients have entrusted us to manage. The actions announced today support NTAM’s strong existing investment stewardship capabilities, as well as lay the foundation for growing and adding depth of expertise to our global stewardship team,” NTAM President Daniel Gamba said. “With a renewed strategic focus on strengthening investment stewardship capabilities, NTAM is well-positioned to serve the long-term financial interests of our clients.”

Northern Trust Asset Management Head of Global Stewardship

Clark joins NTAM as an investment management expert with over 35 years of industry experience. Based in London, Clark will lead NTAM’s investment stewardship strategy, engaging with investee companies to produce long-term value, improved financial performance and better investment outcomes. Clark will serve as Chair of the Northern Trust Proxy Voting Committee and will lead a growing global team of stewardship professionals. Clark reports to NTAM Head of Investment Platform Services Sheri Hawkins, CFA.

“Paul’s expertise will be a tremendous asset to NTAM as we continue to grow our global stewardship team,” Hawkins said. “NTAM’s investment stewardship team is committed to serving the long-term financial interests of our clients. I am confident that Paul’s leadership and deep industry experience will help us achieve and exceed our clients’ investment goals.”

Prior to joining NTAM, Clark spent 30 years with UBS Asset Management, where he had been Head of Stewardship since 2015. He held a variety of roles in stewardship, tax and dividends throughout his time with UBS. Earlier in his career, Clark worked in global custody operations for Northern Trust and JP Morgan Chase.

Unveiling Proxy Voting Choice Rollout

NTAM is rolling out a proxy voting choice solution for investors in select U.S. common and collective funds. NTAM clients eligible for the new proxy voting choice solution represent $250 billion in assets under management, as of June 30, 2024. These newly eligible funds join NTAM clients invested in equities through separately managed accounts, representing $342 billion in assets under management, as of June 30, 2024, that already have optionality in their proxy voting approach. NTAM now offers approximately 76% of client equity assets the ability to exercise proxy voting preferences.