Northern Trust Asset Management has named five senior additions to its outsourced-CIO (OCIO) division in response to growing demand for the service, the company announced August 18.
Division Head Joseph McInerney noted that Groenendijk brings “extensive global investment knowledge” and has become a conference mainstay for speaking on “topics relating to the effective outsourcing of asset management and innovative investment strategies to manage pension funds.”
Two of Groenendijk’s colleagues have also been appointed: ex-RV Kuhns consultant Tracey Nykiel and former Allstate Investments Portfolio Manager James Hayes both recently joined as client investment officers.
Another former consultant, Kurt Zemaier, left Aon Hewitt in May to serve as a pension risk strategist for the Chicago-based group.
Morgan Creek Capital Management likewise lost one of its staffers to Northern Trust’s OCIO division. Nazneen Kanga, formerly a director of business development and marketing, is to focus on foundations, endowments, and global family offices as a solutions strategist at the 125-year-old firm.
“As demand for investment outsourcing continues to grow, we are pleased to add executives who will support our expanded client base while adding new dimensions of experience and talent to our team,” OCIO Head McInerney said. “Jim Hayes, Nazneen Kanga, Tracey Nykiel, and Kurt Zemaier bring deep investment expertise and practical perspectives.”
The firm’s OCIO business grew by $14 billion over the 2014 fiscal year, bringing its assets under management to $58 billion.