Northern Trust said Tuesday that it had hired Michael Blake to be a vice president of business development within its global fund services unit. Blake is to be based in Chicago and develop business for the group, which serves investment managers, fund sponsors and other entities that manage money in-house. Before joining Northern Trust, Blake was the director of financial markets at Business Logic Corp. in Chicago, where he was responsible for sales and marketing of financial planning and managed account software to institutional clients. Previously, he was a manager in the compensation and benefits practice at Grant Thornton LLP in Chicago and an officer at Northern Trust.
The Chicago banking company has a network of 84 offices in 18 states as well as offices in seven countries. At June 30 it had $2.7 trillion of assets under custody and $590 billion under management.