Northern Trust Corporation announced that Perry R. Pero, 65, vice chairman and head of Corporate Risk Management of Northern Trust Corporation and The Northern Trust Company, will retire in the third quarter of this year. Pero joined Northern Trust in 1964 after receiving his MBA degree from Harvard University. He assumed his current responsibilities in January 2004. Prior to that, Pero served as chief financial officer from 1988 to 2004 and held a variety of positions in commercial banking and credit policy, and was chief credit officer from 1984 to 1988. He was named a senior executive vice president in November 1992 and vice chairman in September 1999.
“Perry has made significant contributions to our success and growth over his 41-year career, and his professionalism and dedication to Northern Trust’s values are truly inspirational,” said William A. Osborn, Northern Trust chairman and CEO. “As CFO, he expertly helped guide the company through a tremendous period of global growth and regulatory change. We all owe Perry a great deal of gratitude and admiration for his hard work, loyalty, and outstanding service on our behalf.”
Effective June 30, 2005, Pero will be succeeded by Jana R. Schreuder,46, executive vice president and group manager for Public Entities and Institutions at Northern Trust, who will also serve on Northern Trust’s Management Committee. Prior to her current responsibilities, Schreuder served as president and chief executive officer of Northern Trust Retirement Consulting, L.L.C., a wholly owned subsidiary of Northern Trust until it was sold in 2003. She began her career at Northern Trust in 1980, and has served in various management and leadership roles throughout the corporation, including department head of Securities Processing Operations, director of E- Commerce, and head of PFS National Services.
Osborn said, “Jana brings a wealth of industry knowledge and operational experience to this vital role. She is an exceptional leader and a valued member of our management team. She and Perry will work together to assure a smooth transition of corporate risk responsibilities over the next few months.”