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Carl Tannenbaum

Executive Vice President, Chief Economist
Northern Trust (USA)


Carl Tannenbaum is the Chief Economist for The Northern Trust.  In this role, Mr. Tannenbaum briefs clients and colleagues on the economy and business conditions, prepares the bank’s official economic outlook and participates in forecast surveys.  He publishes weekly commentaries and is frequently interviewed by media outlets such as The Wall Street Journal, Bloomberg, and Reuters. He is also responsible for the analytics and modelling group within Northern Trust’s risk management division and monitors the strategic risks facing the organisation.

Mr Tannenbaum is a member of the bank’s capital committee, its investment policy committee, and the asset/liability management committee.  Prior to joining Northern Trust, he spent four years at the Federal Reserve, where he led the risk section.  He was deeply involved in the central bank’s response to the 2008 financial crisis, helped to create and conduct its stress testing programme, and advised senior Federal Reserve leaders on developments in banking and the financial markets.

Beginning his career in banking at LaSalle Bank/ABN AMRO, a global banking organisation with $1 trillion in total assets, Mr Tannenbaum served for more than 20 years there as Chief Economist and Head of Balance Sheet Management.

He is a member and past Chairman of the American Bankers’ Association’s Economic Advisory Committee, the National Association for Business Economics, the Conference of Business Economists, and the International Conference of Commercial Bank Economists. He also serves on the Board of Working in the Schools (WITS), a literacy organisation that supports the Chicago Public Schools.

Mr. Tannenbaum holds an MBA and a BA in finance and economics from the University of Chicago.

Northern Trust is a $170 billion global bank headquartered in Chicago, with $1.4 trillion in assets under management and $11.3 trillion in assets under custody as of December 31, 2020.




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