Northern Trust Announces Leadership Changes
18 January 2017 - 8:08AM
Business Wire
Northern Trust Corporation (Nasdaq: NTRS) announced today that
Peter B. Cherecwich has been named President, Corporate &
Institutional Services (C&IS). Jeffrey D. Cohodes will succeed
Cherecwich as President, C&IS-Americas. In addition to his
regional C&IS leadership role, Cohodes has been named Chief
Advisor for Global Counterparty Strategy, focused on credit risk
and regulatory requirements across capital markets and banking.
Northern Trust also appointed Wilson Leech as Chief Risk Officer
for the corporation, succeeding Cohodes. Teresa A. Parker will
assume the role of President, Northern Trust-EMEA (Europe, Middle
East and Africa), succeeding Leech, subject to regulatory approval.
Parker is currently Chief Operating Officer for C&IS. A
replacement for her role will be named shortly. Parker will join
the corporation’s Management Group.
“The depth and breadth of our management team allow us to draw
successfully on experience from throughout the organization,
positioning us for even greater success going forward,” Northern
Trust Chairman and Chief Executive Officer Frederick H. Waddell
said. “These leaders have proven track records that have been
integral to our accomplishments over the past several years and
will be key to our continued growth.”
Cherecwich, who joined Northern Trust in 2007, has been
President, C&IS-Americas and President of Global Fund Services
(GFS), as well as a member of the corporation’s Management Group
since 2014. An industry veteran with more than 30 years of
experience in financial services, Cherecwich has also served as
Chief Operating Officer and head of Institutional Product and
Strategy for C&IS.
Cohodes, a Management Group member, has been Chief Risk Officer
for Northern Trust since 2011, and previously served in leadership
roles across Asset Management and Wealth Management, as well as
Chief Strategy Officer for the corporation. In addition to serving
as the regional President for C&IS-Americas, he will also serve
as Chief Advisor for Global Counterparty Strategy, providing
critical leadership in addressing credit risks and regulatory
requirements across Northern Trust’s asset servicing, capital
markets and banking businesses.
Leech is a Management Group member and has been President,
Northern Trust – EMEA since 2010, overseeing asset servicing and
asset management solutions and services for institutional and
ultra-high-net-worth clients across the region. He has worked in
the financial services industry for more than 25 years and joined
Northern Trust in 2004 to lead the GFS business. Leech will be
based in Chicago.
Parker is Chief Operating Officer for C&IS, responsible for
ensuring Northern Trust’s business capabilities, technology and
operating model meet client needs. She is based in London and
previously held leadership roles throughout the enterprise,
including President, Northern Trust-Asia-Pacific, Head of EMEA’s
Institutional and Wealth Management businesses, Chief Operating
Officer for EMEA and Global Head of Asset Servicing. Parker will
become a member of the Management Group.
All of the appointments will take effect February 1, 2017, with
the exception of Parker’s position which is subject to regulatory
approval.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has offices in the
United States in 19 states and Washington, D.C., and 22
international locations in Canada, Europe, the Middle East and the
Asia-Pacific region. As of September 30, 2016, Northern Trust had
assets under custody of US$6.7 trillion, and assets under
management of US$946 billion. For more than 125 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit
northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/disclosures.
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version on businesswire.com: http://www.businesswire.com/news/home/20170117006502/en/
Media Contact:Northern TrustDoug Holt(312)
557-1571Doug.Holt@ntrs.comhttp://www.northerntrust.com
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