Northern Trust announces that Carl Lingenfelter, a former pension trustee for the Chicago Transit Authority, has joined as manager of strategy for the Corporate & Institutional Services division. In the newly-created role, 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 that are essential to better serving Northern Trust’s asset servicing clients around the world.
“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,” says Peter Cherecwich, Northern Trust’s global head of asset servicing product development. “Carl’s experience in global markets and his client perspective from the CTA make him a valuable addition to our team.”
Lingenfelter comes to Northern Trust with extensive experience in economic and investment policy and business consulting. At the Chicago Transit Authority, where he was chief of staff as well as a trustee, Lingenfelter led a targeted expansion into hedge funds and private equity. Lingenfelter was 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 advisor in the Clinton White House. He holds an MBA from University of Chicago and a BA in International Studies from Yale University.