Northern Trust Names New Chairman

Posted on 11/14/2018


Northern Trust Corporation named a new chairman after Frederick H. Waddell, age 65, announced his intentions to step down effective January 23, 2019. Waddell has been with Northern Trust for 43 years, serving nine years as chairman (since November 2009) of the custodial and asset management giant. Waddell ended his decade-long position as CEO on December 31, 2017. Waddell, who holds a bachelor’s degree from Dartmouth College and an MBA from Northwestern University, joined Northern Trust in 1975.

Michael O’Grady, currently Chief Executive Officer and President of Northern Trust, will assume the additional title of Chairman. O’Grady has served as Chief Executive Officer of Northern Trust Corporation since January 1, 2018, and as President since January 1, 2017. From 2014 to 2016, he served as President of the Corporate & Institutional Services business. Prior to that, O’Grady served as Executive Vice President and Chief Financial Officer of Northern Trust Corporation.