Northern Trust announces leadership changes

CHICAGO–(BUSINESS WIRE)–Northern Trust today announced management changes to accelerate the execution of strategic plans.

Longtime Northern Trust executives Dave Blowers, chairman of National Services in Wealth Management, and Lyle Logan, managing director, Financial Institutions Group, have been named vice-chairmen. Their responsibilities include key strategic initiatives and the development of selected clients and prospects worldwide, with Blowers continuing to report to Chairman of Wealth Management Steven Fradkin and Logan continuing to report to Chairman of Asset Servicing Peter Cherecwich.

Fradkin announced additional leadership changes at Wealth Management.

Glenda Pedroso, head of the national banking practice, will become president of the East region. Pedroso will succeed current Eastern Region President Henry P. Johnson, who has been named chief operating officer of Wealth Management. Bruce Letten, director of credit risk and chief financial risk officer for the company, will succeed Pedroso as head of the national banking practice. All roles are effective August 1, 2022 and will report to Fradkin.

As Executive Vice President and member of the Wealth Management leadership team, Pedroso has over 25 years of experience with Northern Trust in multiple roles. In the newly created position, Johnson will deepen the focus on the business unit’s ongoing digital and technology transformation, business process improvements and other cross-business unit activities. Letten has extensive knowledge and experience of banking, credit and risk functions.

“These transitions within our Wealth Management leadership team will reinforce our continued focus on our clients, innovation, efficiency and growth,” Fradkin said. “I am confident that these changes will ensure a strong continuity of expertise and service for clients while positioning Northern Trust well for the future.”

Northern Trust Wealth Management offers holistic wealth management services for affluent individuals and families, family offices, foundations and endowments, and private businesses. It is recognized for its innovative technology, service excellence and depth of expertise and ranks among the top 10 US wealth managers, with $396.2 billion in assets under management as of March 31, 2022. Northern Trust Company is an Equal Housing Lender. FDIC member.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 23 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Visit us at northtrust.com. follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.

Northern Trust Corporation, registered office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Global legal and regulatory information can be found at https://www.northerntrust.com/terms -and-conditions.