Northern Trust yesterday announced the appointment of Robert P. Morgan as managing director of the group's alternative investment products. Morgan will oversee hedge and private equity funds-of-funds for institutional and client investors. Previously head of private equity, he will be overseeing around $3.5bn under management. Morgan has over 20 years of financial industry experience and is currently on the board of the Illinois Venture Capital Association. He will report to chief investment officer Bob Browne.