Northern Trust announces leadership changes
12 September 2024 US
Image: Northern_Trust
Northern Trust Corporation has announced several leadership changes, effective on 1 October.
Peter Cherecwich (pictured left), currently president of asset servicing, will become chief operating officer.
In this newly created role, Cherecwich will focus on ensuring operational excellence and resiliency, effective risk management and controls, and scalable growth.
Cherecwich brings more than two decades of experience in managing complex client relationships and global operations.
He joined Northern Trust in July 2007 as head of institutional product and strategy.
Prior to that, he served in various executive and lead operational roles at State Street Bank.
His current position, president of asset servicing, will be taken by Teresa Parker (pictured right) who has deferred her previously announced retirement.
Parker has served as president of EMEA at Northern Trust since 1982.
She has also held numerous executive leadership roles, including chief operating officer for asset servicing, head of APAC, and global head of securities lending.
Steven Fradkin, currently serving as president of wealth management, will be named vice chairman of Northern Trust.
In this capacity, Fradkin will seek to enhance growth initiatives and foster deeper connections across the firm鈥檚 client franchise.
He joined Northern Trust in 2004 as executive vice president and chief financial officer, and later became president of asset servicing.
Chief Financial Officer Jason Tyler will assume the role of president of wealth management.
Tyler brings a broad range of experience to this role, having served as head of corporate strategy, Asset Management鈥檚 head of the Institutional Group, and Wealth Management鈥檚 chief financial officer.
Tyler鈥檚 position of chief financial officer will be given to David Fox Jr. who is currently president of the Global Family and Private Investment Offices Group.
Fox joined Northern Trust from J.P. Morgan in 2012, after serving as vice chairman of investment banking for more than three decades.
A successor to Fox to acquire the role of president of the Global Family and Private Investment Offices Group will be announced soon.
Commenting on this announcement, Northern Trust鈥檚 CEO and Chairman Michael O鈥橤rady says: 鈥淭hese changes represent our One Northern Trust strategy designed to optimise growth, strengthen resiliency and drive productivity.
鈥淭hey reflect the strength of our leaders, the depth of our talent practices, and our commitment to continuing to serve our clients with distinction in an ever-changing landscape.鈥�
Peter Cherecwich (pictured left), currently president of asset servicing, will become chief operating officer.
In this newly created role, Cherecwich will focus on ensuring operational excellence and resiliency, effective risk management and controls, and scalable growth.
Cherecwich brings more than two decades of experience in managing complex client relationships and global operations.
He joined Northern Trust in July 2007 as head of institutional product and strategy.
Prior to that, he served in various executive and lead operational roles at State Street Bank.
His current position, president of asset servicing, will be taken by Teresa Parker (pictured right) who has deferred her previously announced retirement.
Parker has served as president of EMEA at Northern Trust since 1982.
She has also held numerous executive leadership roles, including chief operating officer for asset servicing, head of APAC, and global head of securities lending.
Steven Fradkin, currently serving as president of wealth management, will be named vice chairman of Northern Trust.
In this capacity, Fradkin will seek to enhance growth initiatives and foster deeper connections across the firm鈥檚 client franchise.
He joined Northern Trust in 2004 as executive vice president and chief financial officer, and later became president of asset servicing.
Chief Financial Officer Jason Tyler will assume the role of president of wealth management.
Tyler brings a broad range of experience to this role, having served as head of corporate strategy, Asset Management鈥檚 head of the Institutional Group, and Wealth Management鈥檚 chief financial officer.
Tyler鈥檚 position of chief financial officer will be given to David Fox Jr. who is currently president of the Global Family and Private Investment Offices Group.
Fox joined Northern Trust from J.P. Morgan in 2012, after serving as vice chairman of investment banking for more than three decades.
A successor to Fox to acquire the role of president of the Global Family and Private Investment Offices Group will be announced soon.
Commenting on this announcement, Northern Trust鈥檚 CEO and Chairman Michael O鈥橤rady says: 鈥淭hese changes represent our One Northern Trust strategy designed to optimise growth, strengthen resiliency and drive productivity.
鈥淭hey reflect the strength of our leaders, the depth of our talent practices, and our commitment to continuing to serve our clients with distinction in an ever-changing landscape.鈥�
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