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. Mr. Tannenbaum publishes weekly commentaries and is frequently interviewed by media outlets such as The Wall Street Journal, Bloomberg, and Reuters.
Mr. Tannenbaum is also responsible for the analytics and modeling group within Northern Trust's risk management division, and he monitors the strategic risks facing the organization. He is a member of the bank's capital committee, its investment policy committee, and the asset/liability management committee.
Prior to joining Northern Trust, Mr. Tannenbaum 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 program, and advised senior Federal Reserve leaders on developments in banking and the financial markets.
Mr. Tannenbaum began his career in banking at LaSalle Bank/ABN AMRO, a global banking organization with $1 trillion in total assets. He served for more than 20 years there as the organization's Chief Economist and Head of Balance Sheet Management.
Mr. Tannenbaum 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.
Mr. Tannenbaum also serves on the Board of Working in the Schools (WITS), a literacy organization that supports the Chicago Public Schools.
Mr. Tannenbaum holds an M.B.A. and a B.A. 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.