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Northern Trust Press Release


Northern Trust Announces Leadership Changes

CHICAGO, January 17, 2017 —

Northern Trust Corporation (Nasdaq: NTRS) announced today that Peter B. Cherecwich has been named President, Corporate & Institutional Services (C&IS).  Jeffrey D. Cohodes will succeed Cherecwich as President, C&IS-Americas.  In addition to his regional C&IS leadership role, Cohodes has been named Chief Advisor for Global Counterparty Strategy, focused on credit risk and regulatory requirements across capital markets and banking.

Northern Trust also appointed Wilson Leech as Chief Risk Officer for the corporation, succeeding Cohodes.  Teresa A. Parker will assume the role of President, Northern Trust-EMEA (Europe, Middle East and Africa), succeeding Leech, subject to regulatory approval. Parker is currently Chief Operating Officer for C&IS.  A replacement for her role will be named shortly.  Parker will join the corporation’s Management Group.  
“The depth and breadth of our management team allow us to draw successfully on experience from throughout the organization, positioning us for even greater success going forward,”
Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “These leaders have proven track records that have been integral to our accomplishments over the past several years and will be key to our continued growth.”

Cherecwich, who joined Northern Trust in 2007, has been President, C&IS-Americas and President of Global Fund Services (GFS), as well as a member of the corporation’s Management Group since 2014. An industry veteran with more than 30 years of experience in financial services, Cherecwich has also served as Chief Operating Officer and head of Institutional Product and Strategy for C&IS.

Cohodes, a Management Group member, has been Chief Risk Officer for Northern Trust since 2011, and previously served in leadership roles across Asset Management and Wealth Management, as well as Chief Strategy Officer for the corporation. In addition to serving as the regional President for C&IS-Americas, he will also serve as Chief Advisor for Global Counterparty Strategy, providing critical leadership in addressing credit risks and regulatory requirements across Northern Trust’s asset servicing, capital markets and banking businesses.

Leech is a Management Group member and has been President, Northern Trust – EMEA since 2010, overseeing asset servicing and asset management solutions and services for institutional and ultra-high-net-worth clients across the region. He has worked in the financial services industry for more than 25 years and joined Northern Trust in 2004 to lead the GFS business. Leech will be based in Chicago.

Parker is Chief Operating Officer for C&IS, responsible for ensuring Northern Trust’s business capabilities, technology and operating model meet client needs. She is based in London and previously held leadership roles throughout the enterprise, including President, Northern Trust-Asia-Pacific, Head of EMEA’s Institutional and Wealth Management businesses, Chief Operating Officer for EMEA and Global Head of Asset Servicing. Parker will become a member of the Management Group.

All of the appointments will take effect February 1, 2017, with the exception of Parker’s position which is subject to regulatory approval.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2016, Northern Trust had assets under custody of US$6.7 trillion, and assets under management of US$946 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at