Northern Trust Taps CTA Alum for Institutional Services Post

August 7, 2008 ( - Northern Trust has turned to Carl Lingenfelter, a former pension trustee for the Chicago Transit Authority, to become its new manager of strategy for the Corporate & Institutional Services division.

A Northern Trust news release said Lingenfelter will work with the Worldwide Operations & Technology unit, product teams, client service and other business lines to lead product innovation and oversee capital investments, strategic partnerships, mergers and acquisitions.

At the Chicago Transit Authority, where Lingenfelter was chief of staff as well as a trustee, he led a targeted expansion into hedge funds and private equity.

Lingenfelter was also staff director of the Illinois Office of Management and Budget, a strategy consultant at McKinsey & Company and Kissinger McLarty Associates, where he helped companies expand into global markets, and also served as an international economic policy adviser in the Clinton White House.

He holds an MBA from University of Chicago and a BA in International Studies from Yale University, according to the announcement

“We are pleased to have someone of Carl’s caliber join our Global Product & Strategy team to support international growth for asset servicing and develop products that will help our clients understand their investments and make educated decisions in the future,” said Peter Cherecwich, Northern Trust’s global head of asset servicing product development, in the announcement. “Carl’s experience in global markets and his client perspective from the CTA make him a valuable addition to our team.”