Chicago-based wealth and asset manager Northern Trust has expanded its tax advantaged equity portfolio management team at Northern Trust Global Investments. Portfolio managers Michael Liao and Peter Zymali will be responsible for the implementation of several quantitative equity strategies specialising in investments actively managed with tax in mind. TAE represents over $12 billion in assets under management across 20 different standard benchmarks, numerous custom mandates, and seven different marketed composites. Mr Liao joins from World Asset Management, a subsidiary of Comerica Bank, where he was a portfolio manager and quantitative analyst. He replaces Jake Weaver who recently moved to Northern Trust’s International Index group based in London. Mr Zymali comes from Northern Trust’s investment consulting services division within the wealth management group where he served as a consultant. His is a new position.