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"We combine the advantages of a boutique with the advantages of a large financial services company. This is ideal."
ORIE DUDLEY JR.
Money management is just one of Orie Dudley's careers - he also has been a college dean and a rancher. In the money management business, Mr. Dudley has been an analyst, chief investment officer, marketing executive and chief executive officer. He has worked for Loomis Sayles & Co. and Putnam Investments, both in Boston; Barclays Group in Canada and London; and Scottish Widows Investment Management in Edinburgh. In between Putnam and Barclays, he returned to his native Idaho as dean of the business school at Boise State University, but said his penchant for outspoken criticism did not endear him to the administration. He left after one year and was settling down to manage his Idaho horse and cattle ranch when he was offered a job as head of Canadian operations for Barclays. Mr. Dudley still owns his ranch and is an avid horseman and devotee of both thoroughbreds (one recently won the Idaho Cup) and cow ponies. Now that he's executive vice president and CIO of The Northern Trust Co., he lives in downtown Chicago with his wife and two young sons.
Q Chicago was a good choice for you?
A I had my doubts, partly because my wife is from Madrid and you would naturally worry that there would be weather-related issues. But we thoroughly enjoy Chicago. ... We actually think we landed in a very ideal spot for us. That has been a truly pleasant surprise.
Q Why did you decide to go to another subsidiary of a large bank?
A What's neat about The Northern and it's not widely known - we are almost a stealth money manager. ... We are not a typical bank and we are increasingly, I think, committed to being a professional asset management company. One of the three strategic goals of this institution is to be a global asset management company. If you look at our income streams as we exist today, we are three-quarters fee-based. We aren't a typical bank, in other words, now, and in the future,...