Northern Trust Asset Management Names Client Portfolio Manager for Muni Team

John Ceffalio Brings 20+ Years of Experience to Client Facing Position

Northern Trust Asset Management (NTAM), a leading global investment management firm with $1.0 trillion in assets under management as of December 31, 2022, announced today that, effective January 9, John Ceffalio has been hired as head of Municipal Client Portfolio Management, a newly created position within its global fixed income group.

The expansion of NTAM’s global fixed income team, responsible for $470 billion in fixed income assets under management, is designed to enhance capabilities as the team serves the evolving needs of fixed income investors worldwide.

As head of Municipal Client Portfolio Management, Ceffalio will work alongside the portfolio management and research teams, enabling him to bring meaningful insights to clients as he helps them navigate the evolving and increasingly challenging fixed income market.

The addition of Ceffalio to NTAM’s Fixed Income Group is part of the firm’s emphasis on delivering holistic global fixed income capabilities and exceptional client service experiences to investors.

“As the needs of fixed income investors have dramatically changed over the last decade, NTAM has continually evolved to meet new challenges facing them,” said Thomas Swaney, Chief Investment Officer of Global Fixed Income at NTAM. “Adding the expertise that John possesses in the muni space, and offering it in a client-facing manner, is a continuation of our emphasis on holistic service.”

Ceffalio joins NTAM with more than 20 years of experience, ranging from buy side firms, including AllianceBernstein, to credit rating agencies, including Moody’s Investors Service. He is active in academia, serving as an Adjunct Associate Professor of Public Service at the Robert F. Wagner School of Public Service at NYU. He’s also active in the industry, serving as Vice-Chair of the National Federation of Municipal Analysts (NFMA) for 2023.

About Northern Trust Asset Management

Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments, so they can confidently realize their long-term objectives. Entrusted with US$1.0 trillion of investor assets as of December 31, 2022, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect, and transparency.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Belvedere Advisors LLC, Northern Trust Asset Management Australia Pty Ltd and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2022, Northern Trust had assets under custody/administration of US$13.6 trillion, and assets under management of US$1.2 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at


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