Northern Trust (NASDAQ: NTRS) names new asset management head

Rhea-AI Filing Summary

Northern Trust Corporation reported a senior leadership change in its asset management business. Michael Hunstad has been appointed President – Asset Management, replacing Daniel E. Gamba, effective September 3, 2025.

Hunstad has held several senior leadership positions at Northern Trust and most recently served as Global Co-Chief Investment Officer, indicating continuity within the firm’s existing investment leadership team. The company also issued a press release providing additional details about this transition.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 3, 2025

NORTHERN TRUST CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

001-36609

36-2723087

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

50 South LaSalle Street

60603

Chicago,

Illinois

(Zip Code)

(Address of principal executive offices)

Registrant’s telephone number, including area code (312) 630-6000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, $1.66 2/3 Par Value			NTRS			The NASDAQ Stock Market LLC
Depositary Shares, each representing 1/1,000th interest in a share of Series E Non-Cumulative Perpetual Preferred Stock			NTRSO			The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

        Compensatory Arrangements of Certain Officers.

(b) On September 3, 2025, Northern Trust Corporation (the “Corporation”) announced that Michael Hunstad will replace Daniel E. Gamba as President – Asset Management, effective immediately. Mr. Hunstad has held a range of senior leadership roles at Northern Trust including most recently serving as Global Co-Chief Investment Officer.

A copy of the Corporation’s press release related to the events described in this Item 5.02 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01.    Financial Statements and Exhibits

    (d) Exhibits:

			Exhibit Number			Description
			99.1			Press Release of Northern Trust Corporation, dated September 3, 2025.
			104			The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NORTHERN TRUST CORPORATION

(Registrant)

Dated:

September 3, 2025

By:

/s/ Susan C. Levy

Susan C. Levy

Executive Vice President, General Counsel and Corporate Secretary

FAQ

What leadership change did Northern Trust (NTRS) announce?

Northern Trust Corporation announced that Michael Hunstad has replaced Daniel E. Gamba as President – Asset Management.

When is the Northern Trust (NTRS) leadership change effective?

The change naming Michael Hunstad as President – Asset Management is effective September 3, 2025.

Who is Michael Hunstad at Northern Trust (NTRS)?

Michael Hunstad is the new President – Asset Management and previously served as Northern Trust’s Global Co-Chief Investment Officer.

Who did Michael Hunstad replace at Northern Trust (NTRS)?

He replaced Daniel E. Gamba as President – Asset Management at Northern Trust Corporation.

Did Northern Trust (NTRS) issue a press release about the leadership change?

Yes. Northern Trust issued a press release dated September 3, 2025, describing the appointment of Michael Hunstad as President – Asset Management.

Does the 8-K mention any financial impact from the Northern Trust leadership change?

The disclosure focuses on the executive transition in the asset management business and does not describe specific financial impacts.