The chief of a $1.3-trillion-AUM (as of December 31) asset manager is preparing to say goodbye after 18 years with the company.

Shundrawn Antwarn Thomas Northern Trust Asset Management President, CEO

Today, Michael O'Grady, chairman and CEO of Northen Trust Corporation, confirms that Shundrawn Thomas will leave the Chicago-based, publicly traded firm on June 1. Thomas serves as president and CEO of Northern Trust Asset Management [profile].

Thomas did not immediately return a call for comment.

The Northern Trust team hints that Thomas will be co-founding a startup "that will provide debt and equity solutions to privately held U.S. companies."

O'Grady offers no hint as to who will lead asset management next. Meanwhile, he lauds Thomas for "his exceptional contributions" to Northern Trust and for being "a tireless champion for diversity, equity and inclusion — both at Northern Trust and in the asset management industry."

"Shundrawn led with clarity, empathy and purpose and served as an example to us all," O'Grady states. "He not only embodied our enduring principles of service, expertise and integrity; he also courageously challenged and guided us to evolve how we live our principles in more inclusive and equitable ways."

Thomas joined Northern Trust back in 2004 and served in several leadership roles before taking over Northern Trust Asset Management's ETF business in 2010. He extended his reach to managed accounts and funds in 2014, and in 2017 he took over all of Northern Trust Asset Management.

Before joining Northern Trust, Thomas worked in Goldman Sachs' equities division and as a fixed income analyst in Morgan Stanley. He is an alumnus of the University of Chicago's Booth School of Business and of Florida Agricultural and Mechanical University. 

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