Peron brings 23 years of industry experience to the position, which includes oversight of investment professionals managing $407 billion in active and index strategies for Northern Trust clients worldwide, it said in a statement.

He was formerly managing director, active equity, and has also been a senior portfolio manager and director of equity research since joining Northern Trust in 2005. Prior to , he held senior risk management and quantitative analyst roles at Alliance Capital, Bank One and Lincoln Capital Management.

Northern Trust Asset Management also announced that Nick Dymond, who manages their international equity index portfolio management team in London, will expand his role to lead the firm’s portfolio management teams in Chicago, London, Hong Kong, and Tokyo to ensure consistent practices globally.

Brent Reeder, a 20-year veteran of Northern Trust, will continue to direct US equity index strategies.

“Equity indexing is a flagship capability of Northern Trust and remains a strategic priority for us, representing more than 40 percent of our assets under management,” said Bob Browne, chief investment officer of Northern Trust. “Indexing is a business that we pioneered and will continue to lead, while our combined team delivers a greater breadth of solutions in the constantly evolving world of alternative indexing and factor-based investing,” he said.