Shundrawn Thomas is leaving his role as president of $1.5 trillion Northern Trust Asset Management to co-found a new, diverse-owned and -led business that will provide debt and equity solutions to privately held U.S. companies.
According to a Northern Trust announcement, a key focus of the new business will be identifying untapped market opportunities and partnering with women and ethnically diverse business operators. Thomas will leave on June 1.
Thomas joined Northern Trust in 2004 and served in several executive roles, including as member of the Asset Management executive team since 2008 and as a member of the Management Group since 2017. A Chicago native, Thomas was named in 2017 by Black Enterprise as one of the Most Powerful Black Executives in Corporate America.
“Shundrawn has been a tireless champion for diversity, equity, and inclusion — both at Northern Trust and in the asset management industry — and is a recognized leader in sustainable investing,” said Northern Trust Corporation Chairman and CEO Michael O’Grady. “We support Shundrawn’s commitment to driving social impact, and we wish him nothing but continued success.”
O’Grady thanked Thomas for his contributions over the last 18 years. “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,” O’Grady said in his statement.
