Chicago Booth

Carl R. Tannenbaum, AB '81, MBA '84

Senior Vice President and Chief Economist
Northern Trust

Carl R. Tannenbaum is senior vice president and chief economist at Northern Trust. As chief economist, Tannenbaum briefs clients and colleagues on business conditions, publishes commentary, and is frequently interviewed by media outlets such as the Wall Street Journal, Bloomberg, and Reuters.  He is a member of the bank's investment policy committee and its asset/liability management committee. 

Prior to joining Northern Trust, 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. 

He began his career in banking at LaSalle Bank/ABN AMRO, a global banking organization with $1 trillion in total assets. There, he served for more than 20 years as the organization’s chief economist and head of balance sheet management. 

Tannenbaum is a past chairman of the National Association for Business Economics, the Conference of Business Economists, the American Bankers Association's Economic Advisory Committee, the North American Asset/Liability Management Association, and the Bank Administration Institute's Treasury Commission. 

He also serves on the board of Working in the Schools (WITS), a literacy organization that supports the Chicago Public Schools. 

Tannenbaum has a bachelor's degree in finance and economics from the University of Chicago and an MBA from Chicago Booth.


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