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"Steve's vast experience working with key clients across all of our businesses and his ability to build enduring relationships are invaluable to us," Chairman and Chief Executive Officer Frederick H. Waddell said. "We will benefit from his focused efforts around growing our client relationships."

"Shundrawn's experience in developing long-term strategies, creating differentiated products, and developing and retaining talented professionals will help us continue to attract some of the largest, most sophisticated individual and institutional investors in the world," Waddell said. "Our Asset Management business is one of the hallmarks of Northern Trust, with approximately $1 trillion in assets under management. I am pleased we have such a capable leader for this critical role."

Thomas currently oversees the development, management and distribution of Northern Funds, Northern Institutional Funds and FlexShares Exchange Traded Funds as well as related business activities. He also oversees the Managed Accounts practice which provides investment advisory solutions to existing clients and financial intermediaries. Previously, Thomas served as President and Chief Executive of Northern Trust Securities, Inc. and Head of Corporate Strategy for Northern Trust Corporation. Prior to joining Northern Trust, Thomas served as a vice president for Goldman Sachs and held positions in sales, trading and research with Morgan Stanley.

Thomas received a B.S. degree in accounting from Florida A&M University and an MBA degree from the University of Chicago Booth School of Business. Thomas currently holds FINRA series 7, 63 and 24 securities licenses.