As per the changes, Sherry Barrat, president of the personal financial services business unit, will assume a new role as vice chairman.
Barrat will be responsible for the cultivation and development of Northern Trust‘s relationship with select clients and prospects, both personal and institutional, around the globe.
Current president of operations and technology Jana Schreuder has been named as new president of personal financial services.
Joyce Clair, executive vice president and head of corporate risk management, has been named president of operations and technology.
Jeff Cohodes, current executive vice president and head of business practices & market segments in personal financial services, has been named head of corporate risk management.
Cohodes will join Barrat, Schreuder and Clair as a member of the corporation’s management group, increasing its membership to 10 executives. The changes will be effective 1 March 2011.
Northern Trust chairman and CEO Frederick Waddell said that these changes demonstrate the depth of leadership team, positioning Northern Trust for greater growth in the future.
