Sabrina Bailey has joined Northern Trust Asset Management as Global Head of Defined Contribution, a new position created to strengthen Northern Trust’s strategic focus on its growing retirement solutions business. Bailey brings 15 years of experience to the role, most recently as head of the U.S. defined contribution segment for Mercer Investment Consulting.
As part of its Defined Contribution Solutions team expansion, Northern Trust also recently hired Gaobo Pang, Ph.D, as Senior Behavioral Finance Specialist. A recognized conference speaker and academic practitioner, Pang is known for his work at consultant Towers Watson and the World Bank.
“We are pleased to welcome these senior leaders to our growing Defined Contribution practice,” said Stephen N. Potter, President of Northern Trust Asset Management. “At a time when we are developing new products and building assets under management, Sabrina Bailey will be a strong, experienced voice at the helm of our global DC business. Gaobo Pang exemplifies the investment we are making in this team, bringing expertise that will enhance our understanding of investor behavior and translate that knowledge into innovative solutions for DC plan sponsors.”
Bailey comes to Northern Trust from Mercer Investment Consulting in Seattle, where she was responsible for the deployment of innovative solutions and intellectual capital, provided investment consulting services to some of the firm’s largest retirement plan clients, and led internal strategy, research and client service committees. Prior to Mercer, Bailey held senior consulting, client service and management roles at Towers Watson and two other firms. She earned B.A. and M.B.A. degrees from George Fox University in Newberg, Oregon.
Pang’s work for Towers Watson and the World Bank includes macroeconomic and policy research, statistical and econometric analysis of workers’ labor behavior, savings adequacy and investment choices, and developing and evaluating optimal strategies, particularly about qualified default investment alternatives and retirement income solutions. He has published extensively in periodicals including the Journal of Retirement, Journal of Pension Economics and Finance and Financial Analysts Journal. Pang earned a Ph.D. in Economics from the University of Maryland, College Park, master’s degrees from Tsingua University in Beijing, China, and the University of Maryland, and a B.A. in International Economics at Fudan University in Shanghai, China.
In addition to the external hires, Brian Bursua and Patrick Gaskin have also joined the DC Solutions group in sales and service roles from within Northern Trust, to further align resources and provide focus in serving the recordkeeper channel.
“Northern Trust’s commitment to the defined contribution business has never been stronger, with continued focus on the importance of people and resources dedicated to supporting the rapid growth of our clients in the DC market,” said Jason Tyler, Head of the Institutional Group at Northern Trust Asset Management. “As global leader, Sabrina Bailey will continue to add resources to the team in support of our initiatives to meet the evolving needs of retirement plan sponsors and the DC marketplace.”
Defined Contribution Solutions at Northern Trust includes a team of investment, plan design and operations experts guided by a strategic vision that considers the perspectives of both plan sponsors and the ultimate beneficiaries, plan participants. Defined contribution assets under management have grown to approximately $120 billion as of June 30, 2015, including more than $7.5 billion in target date investments. The asset management team works closely with Northern Trust's global custody unit to provide comprehensive solutions including multi-manager unitization, integration of DB and DC plan investment pools, performance measurement and cross-border pooling. Northern Trust has approximately $290 billion in defined contribution assets under administration as of June 30, 2015. More information can be found at www.northerntrust.com/dcsolutions.
Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, 50 South Capital Advisors, LLC, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc. and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2015, Northern Trust had assets under custody of US$6.2 trillion, and assets under management of US$946 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.