A number of executive leadership changes are taking place at Northern Trust, including the retirement of vice chairman Sherry Barrat at the end of June and the appointment of David Fox, Jr., the son of former Northern Trust Chairman David Fox, as head of Americas for Corporate & Institutional Services (C&IS).
Additionally, current head of Human Resources Tim Moen has been appointed chief administrative officer, and Biff Bowman, executive vice president and head of Americas for C&IS, which includes securities services, will succeed Moen as head of Human Resources. Those two appointments, along with Fox’s, will be effective May 2.
Barrat is retiring after 22 years at Northern Trust. Before becoming vice chairman, she led the firms Personal Financial Services business.
As CAO, Moen will continue to oversee Human Resources and the Corporate Services Group and continue serving on the Management Group, reporting to Chairman and CEO Frederick H. Waddell. In his new role, Moen will focus employee engagement, talent management and other areas.
Bowman takes on his new role after 27 years at Northern Trust, having served in a number of senior leadership roles including managing director of Northern Trusts Guernsey operation and CEO of EMEA.
Fox joins Northern Trust from J.P. Morgan, where most recently he was vice chairman of Investment Banking. He was with J.P. Morgan for more than 30 years.
“I am pleased to announce these leadership changes, which will support Northern Trusts continued growth,” Waddell says. “It’s a particular pleasure to welcome Dave to Northern Trust. He is keenly aware of our culture, sharp business focus and clientele, and I’m confident that he will be a terrific addition to our already outstanding leadership team.”
(CG)