Northern Trust enhances public funds expertise
24 August 2010 Chicago
Image: Shutterstock
Northern Trust announced today that Luke Howe has joined the Client Solutions Group at its asset management arm, Northern Trust Global Investments (NTGI), and will be responsible for marketing investment products to public pension funds in the Midwest and Western states. Howe, a 32-year member of the International Brotherhood of Electrical Workers, joined from the Park Employees Annuity and Benefit Fund of Chicago, where he served most recently as executive director.
"Luke Howe brings years of public pension experience and a thorough knowledge of institutional investment products to our business development team, and we are delighted to have him," said Jim Aitcheson, managing director of the Client Solutions Group. "This expansion of our team correlates with our increased efforts to advance our public fund capabilities. Luke's understanding of investment solutions for these clients adds a new element to our offering for this market."
Howe rose from electrician to facilities manager over more than three decades as a Chicago Park District employee. For the last 12 years, he has also been a member of the Park Employees Annuity and Benefit Fund Board of Trustees, serving as chairman of the Investment Committee and president of the board. In 2007, Howe was named executive director of the fund, where he oversaw the USD600 million pension fund for more than 6,000 active and retired employees of the Chicago Park District. In that role, Howe hired a new investment consultant firm for the fund, completed an asset allocation study and oversaw investments in hedge funds, private equity and other strategies to better position the fund's portfolio to meet its pension obligations in the current and long-term market environment.
"This is an exciting opportunity to apply my experience from the world of municipal pensions to help Northern Trust's institutional clients navigate the complexity of today's financial markets," Howe said. "As a member of the Client Solutions Group, I look forward to identifying and developing solutions for public funds clients, and building on Northern Trust's reputation as a reliable and innovative provider."
"Luke Howe brings years of public pension experience and a thorough knowledge of institutional investment products to our business development team, and we are delighted to have him," said Jim Aitcheson, managing director of the Client Solutions Group. "This expansion of our team correlates with our increased efforts to advance our public fund capabilities. Luke's understanding of investment solutions for these clients adds a new element to our offering for this market."
Howe rose from electrician to facilities manager over more than three decades as a Chicago Park District employee. For the last 12 years, he has also been a member of the Park Employees Annuity and Benefit Fund Board of Trustees, serving as chairman of the Investment Committee and president of the board. In 2007, Howe was named executive director of the fund, where he oversaw the USD600 million pension fund for more than 6,000 active and retired employees of the Chicago Park District. In that role, Howe hired a new investment consultant firm for the fund, completed an asset allocation study and oversaw investments in hedge funds, private equity and other strategies to better position the fund's portfolio to meet its pension obligations in the current and long-term market environment.
"This is an exciting opportunity to apply my experience from the world of municipal pensions to help Northern Trust's institutional clients navigate the complexity of today's financial markets," Howe said. "As a member of the Client Solutions Group, I look forward to identifying and developing solutions for public funds clients, and building on Northern Trust's reputation as a reliable and innovative provider."
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