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  • Northern Trust to Provide Investment Advisory Services to Texas Parks and Wildlife Foundation
    November 20, 2017

    Northern Trust announced today that its Foundation and Institutional Advisors Group (FIA) has been selected to provide investment and strategic advisory services for Texas Parks and Wildlife Foundation (TPWF). TPWF provides private support to the Texas Parks and Wildlife Department to ensure that all Texans, today and in the future, can enjoy the wild things and wild places of Texas.
  • Northern Trust to Provide Investment Advisory Services to Miracle Flights
    November 15, 2017

    Northern Trust announced today that its Foundation and Institutional Advisors group (FIA) has been selected by Miracle Flights, the nation’s leading medical flight charity, to provide investment and strategic advisory services for the nonprofit organization. Established in 1985, Las Vegas–based Miracle Flights provides free commercial air transportation to critically ill children and adults in need of medical care far from home.
  • Northern Trust Announces Two Elected Fellows of The American College of Trust and Estate Counsel
    November 15, 2017

    Northern Trust announced today that David A. Diamond, President of The Northern Trust Company of Delaware, and Daniel F. Lindley, Fiduciary Practice Executive for Northern Trust’s Global Family Offices group, have been elected Fellows of The American College of Trust and Estate Counsel (ACTEC).
  • Northern Trust Strengthens Florida Wealth Advisory Team
    November 14, 2017

    Northern Trust has appointed Paul Hudson as the New Market Leader of Sarasota and Manatee Counties. Hudson will be responsible for business development strategy, along with client servicing activity to deliver investment management, trust and banking solutions to high net worth individuals in the region.
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Quarter Earnings

 
 

Northern Trust Corporation reports third quarter net income of $298.4 million, earnings per common share of $1.20.

Frederick H. Waddell, Chairman and Chief Executive Officer, commented, “Our third quarter results continued to demonstrate our ability to drive top-line growth with revenue increasing 11% compared to one year ago. Assets under custody/administration and assets under management ended the quarter up 14% and 19%, respectively, compared to a year ago, reflecting higher markets and our continued success in winning new business. On October 2, 2017, we announced the closing of our acquisition of UBS Asset Management’s fund administration units in Luxembourg and Switzerland, further underpinning our growth strategy in Continental Europe. With our ‘Value For Spend’ initiative, we plan to reduce our expense run-rate by approximately $250 million by 2020.”

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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, ‪128-year-old financial institution had $7.8 trillion in assets under custody and $1.1 trillion in assets under management as of September 30, 2017.

‪‪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 AbbVie Inc., IBM, The Chicago Council on Global Affairs, Chicago Urban League, the United Way of Metropolitan Chicago, and the Financial Services Roundtable. He is President of the International Monetary Conference, Chairman of the Civic Committee of The Commercial Club and also serves as Vice Chairman of The Commercial Club. Mr. Waddell is on the Board of Trustees of the Art Institute of Chicago, Northwestern University, the Chicago Symphony Orchestra, the Civic Federation and Northwestern Memorial Hospital. He also serves on the Federal Advisory Council, the Trustees Committee of The Chicago Community Trust, the Global Advisory Board of the Kellogg School of Management, and is an executive advisor to the Metropolitan Planning Council.

Michael G. O'Grady

Michael G. O'Grady

President
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Michael G. O'Grady

Michael G. O'Grady

President
 
Michael O'Grady is President and a Member of the Board of Directors of the Northern Trust Corporation. As President, Mike oversees the Wealth Management, Corporate & Institutional Services and Asset Management businesses and serves as a member of the Corporation’s Management Group.

Prior to assuming his current role, Mike served as President of the Corporate & Institutional Services business unit at Northern Trust. Northern Trust’s C&IS business unit is a leading provider of asset servicing, investment management, banking and related services to institutional clients worldwide. From 2011 to 2014 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. Prior to Merrill Lynch, Mike worked for Price Waterhouse.

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

He is a member of the boards of trustees of The Field Museum and the Museum of Contemporary Art Chicago, the Finance Council of the Archdiocese of Chicago, and the Board of Advisors of 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 Director-Entrust Datacard Corporation; Director & Treasurer-Chicago Public Education Fund; Director-Lifepoint Health, Inc.; Director-Lyric Opera Chicago; Member-The Committee of 200 (C200); Co-Chair-Chicago Chapter of Women Corporate Directors (WCD); Member-The Chicago Network.
Peter B. Cherecwich

Peter B. Cherecwich

President of Corporate & Institutional Services
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Peter B. Cherecwich

Peter B. Cherecwich

President of Corporate & Institutional Services
 

Pete is an Executive Vice President and a member of Northern Trust’s Management Group in Chicago. Pete currently serves as the President of Corporate & Institutional Services business unit.

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.

An industry veteran, Pete brings over 25 years experience in working in a global organization and managing extremely large and complex client relationships. Pete originally joined Northern Trust in July 2007 as Head of Institutional Product and Strategy. Prior to joining Northern Trust, Pete served in various executive and lead operational roles at State Street Bank.

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 60 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.

He 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, a forum for the exchange of ideas and best practices amongst Chief Financial Officers.
Shundrawn A. Thomas

Shundrawn A. Thomas

President, Asset Management
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Shundrawn A. Thomas

Shundrawn A. Thomas

President, Asset Management
 

Shundrawn A. Thomas serves as the President of Asset Management. In his previous role as Executive Vice President, Head of Funds and Managed Accounts Group he was responsible for the development, management and distribution of the firm's mutual funds, institutional mutual funds and exchange-traded funds as well as related business activities. He also oversaw the Managed Accounts practice which provides investment advisory solutions to existing clients and financial intermediaries. His broad executive responsibilities involved developing long-term strategy, executing operating plans, managing client and vendor relationships and developing and retaining talented professionals.

Previously, Shundrawn served as President and Chief Executive of Northern Trust Securities, Inc. a wholly owned subsidiary of Northern Trust Corporation. In addition to his general management responsibilities, he was responsible for overseeing financial management and working with regulators including FINRA and the Securities and Exchange Commission. He also served as Head of Corporate Strategy for Northern Trust Corporation. As a direct report to the Chief Executive Officer, he supported executive management with key strategic planning initiatives. Prior to joining Northern Trust, Shundrawn served as a vice president for Goldman Sachs and held positions in sales, trading and research with Morgan Stanley.

Shundrawn received a B.S. degree in Accounting from Florida A&M University and an M.B.A. degree from the University of Chicago Booth School of Business. He has also completed executive education programs in corporate strategy at Chicago Booth School of Business and corporate governance at University of Notre Dame Mendoza School of Business. Shundrawn currently holds the FINRA series 7, 63 and 24 securities licenses.

Shundrawn currently serves as a trustee for Wheaton College and as a board director of the Florida A & M University Foundation. Shundrawn is a member of the Economic Club of Chicago. His civic involvement has afforded him the opportunity to speak and lecture nationally on topics including leadership, strategy, investment management and professional development.

 

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