Northern Trust Corporation Announces Leadership Changes Effective October 1, 2024
“Northern Trust’s leadership changes reflect our One Northern Trust strategy, designed to drive growth, enhance resiliency, and improve productivity,” said Michael O’Grady, Chairman and Chief Executive Officer. “These appointments highlight the strength of our leadership team and our dedication to delivering exceptional service to our clients in a dynamic environment.”
Peter B. Cherecwich, currently President of Asset Servicing, will assume the role of Chief Operating Officer. In this new position, Cherecwich will focus on operational excellence, effective risk management, and scalable growth, drawing on his extensive experience in managing complex client relationships and global operations.
Teresa Parker will delay her retirement and step into the role of President of Asset Servicing. Parker, who most recently served as President of Europe, the Middle East, and Africa (EMEA), brings a wealth of experience from her previous roles, including Chief Operating Officer for Asset Servicing and Global Head of Securities Lending.
Steven L. Fradkin, previously President of Wealth Management and Asset Servicing, as well as Chief Financial Officer, will become Vice Chairman of Northern Trust. In this role, Fradkin will focus on growth initiatives and strengthening client relationships across the organization.
Jason Tyler, the current Chief Financial Officer, will transition to President of Wealth Management. Tyler’s broad experience includes roles as Head of Corporate Strategy and Asset Management’s Head of the Institutional Group.
David W. Fox Jr., President of the Global Family & Private Investment Offices Group, will be appointed Chief Financial Officer. Fox, who has held various leadership roles, including Head of the Americas for Asset Servicing, will bring a deep understanding of financial management to his new position. A successor for Fox’s role will be announced shortly.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management, and banking services. Founded in Chicago in 1889, Northern Trust operates globally with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East, and Asia-Pacific. As of June 30, 2024, Northern Trust had $16.6 trillion in assets under custody/administration and $1.5 trillion in assets under management. For more information, visit northerntrust.com or follow us on X (formerly Twitter) @NorthernTrust and on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. For global legal and regulatory information, visit northerntrust.com/terms-and-conditions.
