Press Release - January 23, 2019
Northern Trust announced today changes that will build on its Wealth Management fiduciary, advisory and banking expertise while helping drive a business strategy designed for contemporary and future needs.
- Hugh Magill will relinquish his responsibilities as the Corporation’s Chief Fiduciary Officer and assume the role of Vice Chairman for Wealth Management. In this new role, he will continue to offer his tenured expertise in navigating complex fiduciary relationships, as well as his industry-recognized thought leadership.
- Pamela Lucina will assume leadership responsibility for the Trust & Advisory Practice and will also be named Chief Fiduciary Officer for Northern Trust Corporation. Lucina’s strong background in wealth and tax planning, next generation education, governance and global family office matters position her well to build on Northern Trust’s legacy of industry-leading fiduciary and advisory expertise.
- Bill Fuller will transition from his current fiduciary officer responsibilities and serve as Senior Advisor of the Trust & Advisory Practice. Drawing upon his deep reservoir of knowledge, Fuller will continue to advise and consult on the evolution of the practice. Laura Mandel will succeed Fuller in the fiduciary role.
- Susan Mallory, who currently heads the Wealth Management Banking Practice, will be named head of Business Owner Services, a new role created to expand relationships with entrepreneurs and family businesses. Glenda Pedroso will succeed Mallory as head of the Banking Practice. With extensive leadership experience across banking and credit, Pedroso is well equipped to continue the Practice’s growth and evolution.
“We have an extraordinary group of dedicated and talented professionals across our Trust & Advisory Practice, Banking Practice and the rest of the Company,” said Steven L. Fradkin, President, Northern Trust Wealth Management. “These leadership transitions provide for strong continuity of expertise and service for clients while also 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 privately held businesses. It is recognized for its innovative technology, service excellence and depth of expertise and ranks among the top 10 U.S. wealth managers, with $278.6 billion in assets under management as of December 31, 2018. The Northern Trust Company is an Equal Housing Lender. Member FDIC.
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 a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2018, Northern Trust had assets under custody/administration of US$10.1 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com 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 http://www.northerntrust.com/disclosures.