NTAM Appoints Head of Global Stewardship;
Unveils Proxy Voting Choice
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.
Eligible investors will be able to choose from four voting
guideline options, including the option to leverage proxy voting
guidelines developed by Northern Trust’s Proxy Voting Committee,
giving investors in certain institutional pooled investments the
ability to exercise more direct control over their votes. The proxy
voting choice solution will calculate the pro-rata ownership
institutional investors have in a specific security, so the
investor’s voting preference can be exercised according to their
selected guidelines.
“We are proud to provide investors with the ability to align
their votes with their investment goals and values,” Hawkins said.
“NTAM’s investment stewardship practices are designed to ensure
that the companies NTAM invests in on behalf of its clients are
well-positioned to navigate shifting economic conditions, display
strong governance practices and manage material risks to their
business models.”
NTAM’s new proxy voting choice capability will be extended to
additional investors in the coming months. More information on
Northern Trust’s Proxy Voting Policy is available here.
About Northern Trust Asset Management
Northern Trust Asset Management is a global investment manager
that helps investors navigate changing market environments in
efforts to realize their long-term objectives. Entrusted with $1.2
trillion in assets under management as of June 30, 2024, we
understand that investing ultimately serves a greater purpose and
believe investors should be compensated for the risks they take —
in all market environments and any investment strategy. That’s why
we combine robust capital markets research, expert portfolio
construction and comprehensive risk management in an effort to
craft innovative and efficient solutions that seek to deliver
targeted investment outcomes. As engaged contributors to our
communities, we consider it a great privilege to serve our
investors and our communities with integrity, respect and
transparency.
Northern Trust Asset Management is composed of Northern Trust
Investments, Inc., Northern Trust Global Investments Limited,
Northern Trust Fund Managers (Ireland) Limited, Northern Trust
Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South
Capital Advisors, LLC, Northern Trust Asset Management Australia
Pty Ltd, and investment personnel of The Northern Trust Company of
Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of June 30, 2024, Northern Trust had assets under
custody/administration of US$16.6 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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Europe, Middle East, Africa & Asia-Pacific: Simon Ansell
sa777@ntrs.com
US & Canada: Doug Holt +1 (312) 557-1571
Doug.Holt@ntrs.com
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