Thomas Swaney was named executive vice president and co-head of Northern Trust Asset Management’s $551 billion fixed-income business.
Mr. Swaney joined Northern Trust on Monday and is based in Chicago. His position is new, said Tom Pinto, a Northern Trust spokesman, in an email.
Mr. Swaney reports to Angelo Manioudakis, chief investment officer, and shares oversight of the fixed-income business with Colin Robertson, who holds the same titles.
Their joint roles are part of a succession plan that Mr. Robertson has been working on with Mr. Manioudakis in advance of his eventual retirement, said a company news release Monday. His retirement date has not been set.
“The fixed-income landscape is evolving rapidly. Tom is an accomplished fixed-income investor and leader with deep expertise in credit, risk management and derivatives,” Mr. Manioudakis said in the release.
Messrs. Swaney and Manioudakis are well acquainted. They co-founded Lantern Harbor Investment Partners, an institutional fixed-income firm that is wholly owned by Ellington Management Group, in 2019.
Mr. Manioudakis joined Northern Trust from Lantern Harbor as CIO in September 2021.
Mr. Swaney, who was a managing partner at Lantern Harbor, will not be replaced at his former firm, an Ellington spokeswoman said in an email.
Northern Trust Asset Management had $1.3 trillion in assets under management as of Dec. 31.