Northern Trust Shuffles Top Executives

Northern Trust is reshuffling its executive leadership, effective September 1, primarily by restructuring Bill Morrison's role from president and chief operating officer to president and moving Jana Schreuder into the COO role.
By Jake Safane(2147484770)
Northern Trust is reshuffling its executive leadership, effective September 1, primarily by restructuring Bill Morrison’s role from president and chief operating officer to president and moving Jana Schreuder into the COO role.

Morrisson, who has served as president and COO since 2011 and CEO from 1995-2007, will focus on driving business growth as president, overseeing the bank’s revenue-generating lines of Wealth Management, Asset Management, Corporate & Institutional Services, as well as overseeing Corporate Marketing and Strategy functions.

Schreuder, who previously held the position of president of Wealth Management, will serve as COO overseeing the bank’s operations, technology and enterprise change team.

Steven Fradkin assumes Schreuder’s previous role, while Michael O’Grady will move from CFO to Fradkin’s old position as president of Corporate & Institutional Services.

Biff Bowman moves from executive vice president, Human Resources, into the CFO role, while Gill Pembleton, executive vice president, Human Resources—EMEA, will fill Bowman’s previous position on an interim basis until the firm finds a permanent replacement.

Northern Trust has also expanded its management group to 13 members with the addition of Pembleton, Peter Cherecwich, executive vice president and head of Global Fund Services, as well as Robert Browne, executive vice president and chief investment officer.

“These appointments sharpen our organization’s focus on sustainable profitable growth in a highly competitive market and challenging macroeconomic conditions,” says Frederick Waddell, chairman and CEO of Northern Trust. “Our ability to make these leadership changes is a testament to the depth and breadth of our leadership team and will further enable our efforts to accelerate our growth.”

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