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Northern Trust News

 
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Rick Waddell on Bloomberg TV

 
Rick Waddell on Bloomberg TV
August 12, 2014 - Rick Waddell is featured in a Bloomberg TV interview with Betty Liu on alternative investments and the Chicago economy.
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Quarter Earnings

 

Northern Trust Corporation reports third quarter net income of $204.5 million, earnings per common share of $0.84

Frederick H. Waddell, Chairman and Chief Executive Officer, commented, “Our financial performance in the third quarter of 2014 reflects continued growth in our business serving personal and institutional clients. Trust, investment and other servicing fees, which represent two-thirds of our revenue, increased 11% compared to last year. New business and higher equity markets contributed to strong growth in assets under custody and under management, which increased 13% and 9%, respectively. Our pre-tax profit margin improved to 28.2% in the quarter and our return on equity was 10.1%. This performance reflects ongoing efforts focused on growing our client franchise while achieving sustainable improvements in productivity..”

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Media Kit

Executive Biographies

 
Frederick H. Waddell

Frederick H. Waddell

Chairman and Chief Executive Officer
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Frederick H. Waddell

Frederick H. Waddell

Chairman and Chief Executive Officer
 
FREDERICK H. WADDELL is Chairman and Chief Executive Officer of Northern Trust, one of the world's leading asset management, asset servicing, fund administration, fiduciary and banking services firms. Serving successful individuals, families and institutions worldwide, the Chicago-based, 125-year-old financial institution had $5.9 trillion in assets under custody and $923 billion in assets under management as of September 30, 2014.

Since joining Northern Trust in 1975, Mr. Waddell has held leadership positions in commercial banking, strategic planning and Wealth Management. In March 2003, he became head of the Corporate & Institutional Services business unit and, in February 2006, was named President and Chief Operating Officer of Northern Trust. Mr. Waddell was appointed Chief Executive Officer on January 1, 2008, and named Chairman in November 2009.

Mr. Waddell received a bachelor’s degree in government from Dartmouth College and a master’s degree in business administration from the J.L. Kellogg School of Management of Northwestern University.

Mr. Waddell is a member of the Board of Directors of the Federal Reserve Bank of Chicago, AbbVie, Inc., The Chicago Council on Global Affairs, The Economic Club of Chicago, the Financial Services Roundtable, The Chicago Club, Chicago Urban League and the United Way of Metropolitan Chicago. He is Chairman of The Commercial Club of Chicago and also serves as Vice Chairman of the Civic Committee of The Commercial Club. Mr. Waddell is on the Board of Trustees of the Art Institute of Chicago, Northwestern University, the Chicago Symphony Orchestra and Northwestern Memorial Hospital. He also serves on the Trustees Committee of The Chicago Community Trust, serves as Chair of the Kellogg School of Management Dean's Advisory Board, and is an executive advisor to the Metropolitan Planning Council.
Steven L. Fradkin

Steven L. Fradkin

President, Wealth Management
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Steven L. Fradkin

Steven L. Fradkin

President, Wealth Management
 
Steven L. Fradkin is President of the Wealth Management business unit at Northern Trust and serves as a member of the Corporation’s Management Committee. Northern Trust’s Wealth Management business unit is a leading provider of asset management, fiduciary and banking services for affluent individuals and families operating from approximately 65 offices located in 18 U.S. states, Washington, D.C., and international locations across North America, Europe, the Middle East, and the Asia Pacific regions.

Mr. Fradkin has a diversified financial services career with Northern Trust having previously served as President of Corporate & Institutional Services, Executive Vice President & Chief Financial Officer, and head of the Corporation’s international business amongst other roles prior to his current appointment.

Mr. Fradkin joined Northern Trust in 1985 after graduating with a B.A. degree in economics from Washington University in St. Louis. He completed the Program for Management Development at Harvard Business School in 1994.

He is a non-executive director of American Stock Transfer & Trust Company LLC , Armor Holdco Inc., Armor Holding II LLC, The Davidson Commission Company, and a former director and audit committee chair of optionsXpress Holdings, Inc.

Mr. Fradkin also serves on the Board of Directors of the Chicago Horticultural Society (Chicago Botanic Garden) and is a member of the Suzanne's Friends for Life Chapter of the Leukemia Research Foundation, The Chicago Council on Global Affairs, the Washington University's Arts & Sciences National Council and Chicago Regional Cabinet and is the founder of CFO Select, an exclusive forum for the exchange of ideas and best practices amongst Chief Financial Officers.
Bill Morrison

Bill Morrison

President
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Bill Morrison

Bill Morrison

President
 

William L. Morrison is President of Northern Trust Corporation and is a member of the Management Group.

Prior to his current position, he served as Executive Vice President & Chief Financial Officer from October 2009 to October 2011. From 2003 through 2009 he served as President of Personal Financial Services and Chairman of Northern Trust, NA.  From 1996 to 2003 he served as Chairman, President and Chief Executive Officer of Northern Trust Bank of Florida, and President and a Director of Northern Trust of Florida Corporation.

Prior to joining Northern Trust Bank, Bill was President and a Director of Intercontinental Bank until it was acquired by NationsBank in December, 1995. He began his banking career in 1973 with Pan American Banks, Inc. and held various positions including Senior Vice President in Corporate Banking and Executive Vice President for Corporate Lending. Pan American Banks, Inc. was acquired by NCNB National Bank of Florida in December, 1985.

Bill received his B.S. in Finance from the University of Pennsylvania, Wharton School in 1973.

Bill was a resident of Miami from 1973 to 2010.   He currently serves on the Board of Trustees of the University of Miami and as a Trustee of the New World Symphony, and is a former Chairman of the Board of Palmer Trinity School in Miami and continues as a Board Member.

He is a Board Member of Junior Achievement of Chicago, Museum of Science & Industry and the University of Chicago Medical Center.

Michael G. O'Grady

Michael G. O'Grady

President, Corporate & Institutional Services
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Michael G. O'Grady

Michael G. O'Grady

President, Corporate & Institutional Services
 
Michael O’Grady is President of the Corporate & Institutional Services business unit at Northern Trust and serves as a member of the Corporation’s Management Committee. Northern Trust’s C&IS business unit is a leading provider of asset servicing, investment management, banking and related services to institutional clients worldwide including but not limited to corporate and public pension funds, sovereign wealth funds, supranational organizations, investment management firms, foundations and endowments, healthcare organizations, insurance companies, and other financial institutions.

Prior to assuming his current role, Mike served as Executive Vice President & Chief Financial Officer of Northern Trust.

Mike joined Northern Trust in 2011 from Bank of America Merrill Lynch, where he served as a Managing Director in the firm's Investment Banking Group and head of the Depository Institutions Group for the Americas. He joined Merrill Lynch in 1992 as an Associate. Prior to Merrill Lynch, Mike worked for Price Waterhouse.

Mike earned a BBA from University of Notre Dame and a MBA from Harvard Graduate School of Business.

He is a board member of the Field Museum, the Museum of Contemporary Art and Catholic Charities.
Jana Schreuder

Jana Schreuder

Chief Operating Officer
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Jana Schreuder

Jana Schreuder

Chief Operating Officer
 
Jana R. Schreuder is a member of the Northern Trust Executive Management Group and is the Chief Operating Officer. Based at the company’s headquarters in Chicago, Jana leads Northern Trust’s business enablement activities for the global enterprise which includes: Business model and data architecture; Change management resourcing and governance; Client and partner experience research; Operations; Product development and Technology.

Prior to her current role, Jana was President of Wealth Management which provides investment management, fiduciary consulting, financial planning, private banking and other advisory services designed to assist successful individuals and families in growing, protecting and transferring their wealth. She previously was President of Operations & Technology responsible for the technology infrastructure and applications development as well as custody and banking operations that support Northern Trust’s global business. Her initial executive Management Group role was as Head of Risk Management, responsible for overseeing the management of credit, market, fiduciary, operating, compliance, and strategic risk across all segments of our global business.

Earlier leadership roles include: Group Head of the Public Entities and Institutions Segment responsible for client servicing and sales in the Corporate and Institutional Services Business Unit; President and Chief Executive Officer of Northern Trust Retirement Consulting, L.L.C. (NTRC) in Atlanta, Georgia which delivered Actuarial/Consulting, Defined Contribution Outsourcing, Defined Benefit Outsourcing, Comprehensive Benefit Statements, and Education/Communication services; Head of Wealth Management National Services and was responsible for overseeing the development, management, and servicing of nationally focused products/services, as well as implementing consistent service standards and policies across the multi-state office network; Northern Trust’s E-Commerce Director which facilitated the development of digital business/strategies.

Jana joined Northern Trust in 1980 as an employee benefits accountant. During her extensive career, she has also managed such areas as Securities Operations, Information Delivery and Risk and Performance Services.

Jana is currently a Trustee-Ravinia Festival; Director & Treasurer-Chicago Public Education Fund; and Director-Lyric Opera.
Stephen Potter

Stephen Potter

President, Asset Management
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Stephen Potter

Stephen Potter

President, Asset Management
 
Steve Potter is President of Northern Trust Asset Management. He is also Executive Vice President of Northern Trust and sits on the Corporation’s Management Group.

From 2001 until 2008, Steve was based in London and served as the Chief Executive Officer of Europe, Middle East and Africa overseeing all of Northern Trust's businesses in the region. He also served as Chairman and Chief Executive Officer of Northern Trust Global Services, Ltd. and Chairman of Northern Trust Global Investments, Ltd. He previously served in London as Segment Head of International and Global Fund Services.

Prior to moving to London, Steve served in Chicago as Managing Director of the Institutional Group within Northern Trust Asset Management. In this role he was responsible for global strategic planning, marketing, product development, client servicing and sales related to the institutional asset management business. Steve joined Northern Trust in 1982 and has 31 years of experience within the financial services industry.

Steve holds a B.A. in economics and history from Duke University and an MBA with concentrations in marketing and finance from the J. L. Kellogg Graduate School of Management at Northwestern University.

He is a member of the board and the executive committee of Rush University Medical Center. He also serves on the Duke University Trinity College Board of Visitors and the boards of the Solti Foundation, the CFA® Society of Chicago and the British American Business Council. He is a member of the Financial Services Roundtable, the London Capital Club, the Worshipful Company of International Bankers, the Economic Club of Chicago and the Chicago Commonwealth Club.
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Experts in the News

 

Invest Like a Tech Tycoon

This Barron's Penta cover story highlights how leading private banks such as Northern Trust serve Silicon Valley’s elite.
 

Wayne Bowers on Reuters Insider

November 17, 2014 - Wayne Bowers, at the Reuters Global Investment Outlook Summit, discusses the fragile global growth situation with Angeline Ong

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Jim McDonald on CNBC’s “Street Signs”

October 21, 2014 – Jim appeared on CNBC’s midday show for a discussion of Europe and the U.S. stock market.
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Bob Browne on Bloomberg TV Asia’s ‘On the Move’

September 8, 2014 - Rishaad Salamat speaks to Chief Investment Officer, Bob Browne on the impact of geopolitics on investor sentiment and US equity markets.

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Katie Nixon on CNBC Power Lunch

November 18, 2014 - Katie joins CNBC's Tyler Mathisen and explains that when it comes to value – Northern Trust looks to U.S. equity assets.
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Carl Tannenbaum on Bloomberg TV

September 11, 2014 - Carl Tannenbaum discusses the stances and challenges facing central banks in the US, Europe and the UK.
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