Northern Trust has appointed Carl R. Tannenbaum as its chief economist, succeeding Paul Kasriel, who retired from Northern Trust earlier this year.

As head of Northern Trust's global economic research function, Tannenbaum will monitor economic and political developments worldwide, forecast major economic indicators and communicate his views to internal colleagues and external clients.

Since 2008, Tannenbaum, head of the Risk Division at the Federal Reserve Bank of Chicago. Previously, he was head of Balance Sheet Management at LaSalle Bank/ABN AMRO.